Most links to this story seem to be behind paywalls, but a link to a snippet here: http://www.miningbusiness.net/content/thundelarra-pre-emption-dashes-sandfires-red-bore-plans
THUNDELARRA: PRE-EMPTION DASHES SANDFIRE'S RED BORE PLANS
Perth, Jul 19
West Australian explorer Sandfire's plan to link forces with neighbour Thundelarra to explore the Red Bore project adjoining its DeGrussa copper-gold mine in the Doolgunna region has been dashed after Thundelarra's existing 10% JV partner, private owner William Richmond, exercised his pre-emptive right.
Richmond has paid $A1.65M cash and can earn up to a further 75% interest by funding $1.5M exploration and defining a 30,000t copper equivalent resource. With Sandfire's plan to use Red Bore as a potential feed source for DeGrussa now dashed, Thundelarra is weighing options including the sale of its remaining interest to Richmond at an independent valuation.
Increased incentive for Sandfire to explore the JV tenements with GTE, then?
Add to My Watchlist
What is My Watchlist?
