APPROVAL TO MINE AT BURBANKS NORTH HIGHLIGHTS: • Approval to mine received from the Department of Mines, Industry Regulation and Safety (DMIRS; WA Mines Department) • Approval allows for open pits to be mined at Burbanks North and at Fangjaw (Figure 2) • Burbanks North forms part of the Initial Licence Area pursuant to Exploration and Mining Joint Venture Agreement (JV Agreement) with FMR Investments Pty Ltd (FMR) • Under the terms of the JV Agreement, if FMR elect to proceed with mining at Burbanks North, they then carry all mining and financial risks. • Also, under the terms of the JV Agreement, net profits from mining is to be set aside in a “Future Fund” for exploration at Burbanks • Fangjaw, not being an Initial Licence Area, is not subject to the JV Agreement but may be included subject to further negotiation between Barra and FMR
BAR Price at posting:
3.0¢ Sentiment: None Disclosure: Not Held
