PERTH (miningweekly.com) – Gold miner Newcrest Mining will continue with the next stage of the farm-in agreement over ASX-listed Antipa Minerals' Wiki project, in Western Australia.
The Stage 1 earn-in requires the gold miner to invest a further A$10-million on exploration expenditure by March 2025, to earn a 51% joint venture (JV) interest in the Wiki project, and followed an initial A$6-million expenditure on exploration.
Newcrest has the right to withdraw from the farm-in during the Stage 1 earn-in.
The company could also spend a further A$44-million on exploration by March 2028 during the Stage 2 earn-in, to acquire a 75% interest in the JV.