Nov 16 (Reuters) - Ausquest Ltd (AQD) :
- AUSQUEST AND SOUTH32 EXTEND STRATEGIC ALLIANCE AGREEMENT
- UNDER TERMS OF SAA, AUSQUEST RECEIVES AN ADMINISTRATION FEE EQUAL TO 15% OF MONIES EXPENDED ON ALL PROJECTS UNDER SAA.
- WILL CONTINUE TO MANAGE INITIAL PROGRAMS IN CONSULTATION WITH SOUTH32
- TARGETED PROJECTS INCLUDE COPPER, ZINC AND NICKEL PROJECTS IN AUSTRALIA AND PERU
- UNDER AGREED JOINT VENTURE TERMS, SOUTH32 MUST CONTRIBUTE A TOTAL US$4.5M TO EARN A 70% JOINT VENTURE INTEREST
- ONCE A PROJECT IS ACCEPTED BY SOUTH32 AS A DRILL-READY OPPORTUNITY, SOUTH32 CAN ELECT TO EARN A 70% INTEREST IN PROJECT
- UNDER AGREED JV TERMS SOUTH32 CAN EARN AN 80% INTEREST IN EACH PROJECT BY COMPLETING A PRE-FEASIBILITY STUDY
- CO, SOUTH32 TO EXTEND SAA FOR FURTHER TWO YEARS
News: S32 Ausquest Says Co And South32 Extend Strategic Alliance Agreement
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