Ann: Quarterly Activities Report, page-7

PORT MORESBY, Sep 20

”Niuminco has told Mincor Resources it wants to terminate their Papua New Guinea joint venture agreements after the nickel major suspended its exploration there.The decision by Mincor to stop activities on the May River and Bolobip joint ventures for an unspecified period of time, writing off exploration costs of $A11.4M, follows its withdrawal in March from their Edie Creek joint venture and the earlier exit from the Kubuna prospect.Although Mincor has said the terms of its 2011 JV allow it to withdraw from each project without penalty, the PNG specialist Niuminco intends to seek “advantageous” terms for terminating the JV.The junior explorer released an independent report in July by epithermal gold consultant John Nethery highlighting the substantial economic potential of three Edie Creek orebodies and has stressed its intent to continue exploration at May River and Bolobip.”

https://www.miningbusiness.net/content/niuminco-seeks-compo-ending-mincor-jv-pact