Under the terms of the agreement, Morila have been granted a six month option to acquire an Area of Interest within the Massigui Gold Project. Upon exercise, Morila will make a payment of US$1,000,000 and Birimian will retain a royalty of up to 4% of gold produced from the Area of Interest.
The option is exercisable on or before 24 April 2017.
Possible announcement next week on the
25th April regarding the above.
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Koting Prospect ... 28 February
Given the approaching potential exercise date for the Morila option,
the Company has decided to test the high priority target at Koting in order to reach an appropriate decision point for this prospect during the current field season in Mali.
Then it goes on to say ....
- A program comprising three holes for 600m of diamond drilling is planned to investigate depth extensions to mineralisation in the central portion of the prospect area. Drilling will commence in approximately one week; immediately following completion of the development drilling program at the Bougouni Lithium Project. Results will be reported as they come to hand.
On the back of the Randgold announcement
There is 600m of diamond drilling results due.
As gold is in favour once again, it could very well give the SP a well deserved kick up the back side.
I've got no doubt the results favourable
As Koting has a similar structure as the Morila did in the early days.
