Nippon is targeting copper with our JV at Concurry – (GBM 45.2% interest)
I expect news in early July for our diamond drill of 550 meters.- this is very exciting for the Co and could be a near term catalyst for our SP
Details for holders below as per our GBZ website
GBM is the manager of the Joint Venture and retains a free carried interest of 10% through to completion of a bankable feasibility study (BFS).
These projects are part of a Farm-In JV arrangement, and to date, they have solely funded A$16.8 M of exploration on the JV.
Nippon Mining can elect to spend up to A$55 M and deliver a BFS to earn up to 90% of the projects.
Ann: Cloncurry Project - Drilling to Commence at Mt Margaret, page-22
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