charters towers back in there

Sydney - Thursday - December 22: (RWE Aust Business News) - SMC
Gold Ltd (ASX:SMO) has a non-binding agreement for a joint venture
exploring for gold on its tenements at Charters Towers in northern
Queensland.
Earlier this year it suspending gold production in Queensland and
sold its Rishton mill, while retaining acreage at Charters Towers and an
option to repurchase the Rishton mill after three years.
"While SMC Gold's primary focus is clearly its copper-gold mining
operations in Chile, the company believes that the joint venture
exploration proposal represents an attractive opportunity at a time when
gold prices are performing well," managing director Rob Kidd said.
Its agreement is with an Australian investment firm which will
source investors to form the joint venture to fund an 18-month
exploration campaign.
The JV is subject to certain conditions being met over the next
six months.
If it does not proceed SMC Gold has agreed to meet certain costs
associated with the transaction.
SMC Gold shares were steady at 9.5c.
ENDS