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Australia Investing
OZ Minerals Satisfies 51 Percent Earn-In at West Musgrave
Oct. 11, 2018 08:35AM PST
OZ Minerals has satisfied the 51 percent earn-in milestone by contributing an initial spend of AU$3 million, followed by a further AU$19 million on the pre-feasibility study at the Nebo-Babel deposits and regional exploration.
Cassini Resources (ASX:CZI) has released an update on the West Musgrave niclel-copper project earn-in/joint venture with OZ Minerals (ASX:OZL), announcing that OZ has satusfied its 51-percent earn-in requirement at the West Musgrave project in Western Australia.
OZ Minerals has satisfied the 51 percent earn-in milestone by contributing an initial spend of AU$3 million, followed by a further AU$19 million on the pre-feasibility study at the Nebo-Babel deposits and regional exploration. OZ Minerals has now notified, and Cassini are satisfied, that this expenditure commitment has been met.
As highlighted in the press release:
- OZ Minerals earn 51 percent of the WMP by satisfying AU$22 million spend commitment
- The milestone was achieved 6 months earlier than required by JV agreement
- Demonstrates positive progress of the PFS and OZ commitment to WMP
Click here to read the full Cassini Resources (ASX:CZI) press release.
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