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Cazaly Signs Farm-in Agreement for Queensland Nickel Project
Mar. 12, 2013 05:33PM PST
Base Metals Investing
Mining Weekly reported that Cazaly Resources Ltd. (ASX:CAZ) and Anglo American Exploration Australia have signed a farm-in agreement regarding the Lynd nickel project. The agreement allows Cazaly to obtain full ownership of the project once it has completed 2,000 meters of reverse circulation drilling.
Mining Weekly reported that Cazaly Resources Ltd. (ASX:CAZ) and Anglo American Exploration Australia have signed a farm-in agreement regarding the Lynd nickel project. The agreement allows Cazaly to obtain full ownership of the project once it has completed 2,000 meters of reverse circulation drilling.
As quoted in the market news:
Anglo American would retain a once-off clawback right to acquire a 30% interest in the project by paying 300% of Cazaly’s exploration expenditure.