This is excellent news! FMR is now proceeding with the JV mine at Burbanks Main Lode.
A 50/50 profit share but FMR are taking all the risks.
Assuming all goes well, this will make Barra a gold miner again and bring in the cash they need to develop their other resources.
A 12 month trial project to begin with - which is to be expected - but scope to extend beyond the initial licence area. FMR must be expecting a longer project than 12 months, or they would never have hit the start button at all.
Barra is due for a serious re-rate.
Cheers
Dave
This is excellent news! FMR is now proceeding with the JV mine...
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