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OZ Minerals Announces to Loan Carry Minotaur Through to Commercial Production from Jericho Copper Deposit

14 May 2019  |  10:01:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: MEP: OZ Minerals to loan carry MEP to commercial production

OZ Minerals announced that through investment of A$10m attained 70% beneficial interest in the Eloise JV tenements, which contains the Jericho deposit. The Company and Minotaur Exploration have agreed to structure a new, additional JV specifically for the Jericho project, the area of which is excised from the current Eloise JV area. The new arrangement provides for Minotaur to be loan carried for all further work in relation to Jericho until the project is developed and in commercial production. Its beneficial ownership of the Jericho JV is increased from 70% to 80% (Minotaur 20%), effective 1 April 2019.

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