RE: Newcrest signs Havieron Joint Venture Agreement29 Nov 2020 23:31
When I read this initially I thought we were giving away 25% for A$20m but I can see a way how it could be read as 75% as there is no punctuation. How do others read it?
"Juri Farm-in and Joint Venture Agreement
Newcrest has also entered into the Juri Joint Venture which is a farm-in and joint venture agreement with
Greatland Gold, with respect to its Black Hills (E45/4512) and Paterson Range East (E45/4928) Projects,
located within the Paterson Province approximately 50km from the Telfer operation. The new joint venture
covers an area of approximately 248km2.
Under the terms of the agreement, Newcrest has been granted an initial 25% joint venture interest with the
potential to earn up to a 75% joint venture interest through total expenditure of A$20 million over a two stage
earn-in, across a five year period. Greatland Gold will manage the Juri Joint Venture until the end of calendar
year 2021, after which Newcrest will have the right to be appointed as Manager".