Newcrest to Acquire Cape Lampert’s Cote D’Ivoire Tenements, West Africa
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Australian resource and investment company, Cape Lambert Resources Ltd has agreed to sell its tenements in the Cote D’Ivoire to Newcrest Mining Ltd for US$332,500 plus a royalty.
Cape Lambert executive chairman, Tony Sage said: “I am pleased that we have been able to divest the Cote D’Ivoire Licenses to a well respected mining corporation, who will be able to progress the exploration of the Licenses for the benefit of all the stakeholders”.
The sale consideration of US$332,500 is payable by the Newcrest subsidiary on the execution of assignment documents for the transfer of the Licenses, less a US$50,000 non-refundable deposit which has already been paid.
In addition, a 1 percent net smelter return royalty is payable on gold produced from the Licenses capped at US$1 million.
The sale is subject to Newcrest receiving approval from the Minister of Mines for the transfer of the Licenses.
Source: (March 23, 2016) Proactive Investors
About Cape Lambert Resources
Cape Lambert Resources Ltd is an exploration and development company with interests in a geographically diverse portfolio of mineral assets and investments.
To stop by Cape Lambert’s website, CLICK HERE
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