- Write by:
-
Thursday, November 15, 2018 - 11:30:38 AM
-
1056 Visit
-
Print
Mining News Pro - ASX-listed Hipo Resources has signed a joint venture (JV) agreement to earn a 60% interest in the Kamola lithium project, in the Democratic Republic of the Congo.
According to Mining News Pro -Under the terms of the agreement with Crown Mining, Hipo will sole-fund $5-million in exploration and project development expenditure within a three-year period to maintain its JV interest.
Exploration activities to the tune of $1-million will be undertaken within the first 12 months of the JV, and Hipo will advance funding on a loan account basis, with Crown finance carried through to a definitive feasibility study stage.
“This transition is a very significant development for Hipo and we are pleased to have agreed terms with Crown,” said executive chairperson Maurice Feilich, noting that exploration results from surrounding projects, which had similar geological characteristics to Kamola, gave the company every confidence in the asset.
Follow-up work at Kamola, including detailed mapping, surface geology analysis, sampling and pitting, will commence early next week and we expect it will give us a greater understanding of the project’s potential and identify immediate drill targets for early 2019.
Short Link:
https://www.miningnews.ir/En/News/299472
Mining News Pro - In the difficult and exhausting conditions of unilateral and cowardly sanctions, more than any other ...
Mining News Pro - The CEO of Khuzestan Steel Company informed about the plans made to reach the production level of 13 ...
Mining News Pro - The 19th International Metallurgy Exhibition (IranMetafo) was held at the permanent location of Tehran ...
Mining News Pro - European Commission President Ursula von der Leyen said last month that commodities like lithium and ...
Mining News Pro - In response to Western sanctions, Russian miners have looked towards merging to create companies ...
Mining News Pro - In 2020, Iran started to promote mining tourism by launching the first project in the Anguran lead and ...
Mining News Pro - Acid mine drainage has long been a scourge in Appalachia. Recent research suggests that we may be able ...
Mining News Pro - Using a global data set of zircon trace elements, new research demonstrates the power of machine ...
Mining News Pro - The global markets of nickel, lithium and cobalt – three of the key metals used in electric vehicle ...
No comments have been posted yet ...