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Newcrest Mining Announces Entering Farm-in Agreement with Greatland Gold

12 Mar 2019  |  18:14:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Newcrest enters farm-in agreement with Greatland Gold

Newcrest Mining announced that it has entered into an exploration farm-in agreement that establishes a JV with Greatland Gold plc on their Havieron tenement, which is in the Paterson province and 45km east of Telfer. The Company will be the manager of the exploration program during the farm-in period and while it maintains a majority interest. There is a minimum commitment of US$5m over an initial 12-month period with the potential for the Company to earn up to a 70% JV interest through total expenditure of US$65m over a 6-year period. The Company may acquire an additional 5% interest at the end of the farm-in period at fair market value. The Company may terminate the farm-in agreement at any time after the minimum commitment has been met.

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