Interesting announcement from Calidus but how realistic is it and what does it mean for HAO shareholders? It says it allows Calidus to find and then negotiate terms of any further agreement. So maybe good for Haoma depending on terms, doesn't really say who will cover costs.
Calidus has signed a Binding Framework Agreement with Haoma under which Calidus may form a joint venture covering any Haoma tenements in the East Pilbara (1,135sqkm) • These tenements host numerous known high-grade deposits including Bamboo Creek, Comet, Blue Bar, Mickeys Find and Normay and stockpiles • The deposits are all within trucking distance of Calidus’ Warrawoona gold project and all are located on granted Mining Leases • Proposed JV terms provides for a 60:40 profit share (Calidus:Haoma) • Potential to access stockpiles in the very near-term • Full review of stockpiles and deposits now underway • This proposed gold JV is in addition to the previously-announced lithium agreements between Calidus and Haoma; These tenements are held by Pirra Lithium
HAO Price at posting:
23.0¢ Sentiment: Hold Disclosure: Held
