Range River Gold and Northwest Mining and Geological Exploration Bureau Sign Agreementadmin
Range River Gold announced that it has agreed in principle terms for Northwest Nonferrous International Investment a 100% owned subsidiary of the Northwest Mining and Geological Exploration Bureau for Nonferrous Metals (NWME) to earn-in to the company’s Indee Project in Western Australia. The company and NWME have also agreed in principle terms for co-operation on further projects in Australia. Under the basic terms for the earn-in agreement for the Indee Project, NWME will earn 49% of the Indee Project by spending $9m over four years, both NWME and the company will be responsible for development expenditure in proportion to their shares in the project, the company and NWME will form a technical committee and an operating committee to oversee the exploration programme and the company will be the manager and entitled to a management fee.
Original Announcement: Range River Gold (RNG) and NWME sign Letter Agreement