Kincora Copper (ASX:KCC) and AngloGold Ashanti have signed an amendment to their earn-in and joint venture agreement for a second joint venture in the Northern Junee-Narromine Belt of the Macquarie Arc in Australia supporting total expenditures of up to AU$100 million, according to a Monday Australian bourse filing.
Under the amendment, AngloGold may earn 70% interest by spending AU$25 million with an option to increase to 80% with additional funding or studies while the company remains the operator earning a 10% management fee.
The agreement accelerates drilling plans to expand to ongoing drilling at the Nyngan project and a new drilling program to start at the Nevertire and Nevertire South projects.
The company's shares were up 10% in recent Tuesday trade.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。