Pallas - we own a %age12 Feb 2025 12:57
Strategic Alliance and JV Highlights
Initial Phase: Ivanhoe and Pallas have formed several joint ventures, with Pallas holding 80% and Ivanhoe 20% of each. Over a two-year term, Ivanhoe has committed to sole-fund $18.7 million. Pallas will oversee the alliance and receive administrative and annual cash payments.
Phase 1: Over four years, Ivanhoe can earn 51% by funding up to $115 million across the projects, which would include significant drilling campaigns. If Ivanhoe chooses not to progress certain projects or if tenure is relinquished, expenditure will be adjusted accordingly. Upon completion, Pallas is granted an NSR royalty and a cash milestone payment for each project that progresses.