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Sandfire Resources NL forms joint venture with Ventnor Resources Ltd's Delgare Pty Ltd

Tuesday, 3 Dec 2013 08:52pm EST 

Sandfire Resources NL and Ventnor Resources Ltd:Says Thaduna/Green Dragon Copper Project (Project) farm-in agreement with Ventnor Resources Ltd (Ventnor) and Delgare Pty Ltd (Ventnor’s wholly-owned subsidiary) has settled.Says Sandfire Resources NL and Delgare Pty Ltd have formed the joint venture over the Thaduna/Green Dragon Copper Project with Sandfire acquiring an immediate 35 pct interest in the Project in return for the upfront payment of A$3 million.Says Sandfire will manage and has the right to sole fund the Project over the next four years to earn up to 80 pct interest in consideration for further expenditure of A$6 million. 

Company Quote

-0.215 -3.57%
10:16pm EDT