GSR 0.00% 1.1¢ greenstone resources limited

Don't think so. Barra AXA 30-04-2020 readsWith access to mills...

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    Don't think so. Barra AXA 30-04-2020 reads
    With access to mills in the Eastern Goldfields becoming increasing scarce,
    the ability to utilise FMR’s 100% owned nearby Greenfields Mill is
    considered a significant opportunity to monetise ore from Burbanks at
    current gold price highs.
    The key terms of the agreement are as follows:
    The agreement initially considers mining the Burbanks North
    deposit to a depth of up to 35m and the Main Lode South deposit
    to a depth of up to 75m depth (“Initial Licence Areas”).
    FMR will be responsible for funding the grade control drilling in the
    Initial Licence Area as an allowable deduction from future profits.
    If FMR elect to proceed with mining in the Initial Licence Area, they
    then carry all mining and financial risks.
    Processing is to be conducted at FMR’s nearby Greenfields mill.
    The first $8 million dollars in net profits from the Initial Licence Area
    is to be set aside in a “Future Fund” trust for exploration at
    Burbanks at depth and along strike.
    Any additional profits to be distributed 80/20 with Barra having a
    20% free carried interest.
    A Burbanks Consultation Committee will be formed with equal
    representation from the parties to consider Future Fund
    exploration programs and “Future Mine Plans”.
    If the Burbanks Consultation Committee recommends Future Mine
    Plans, FMR may elect to proceed within 90 days.
    Within 30 days, Barra may elect to increase its interest from 20%
    free carried to 50% by contributing up to 50% of the mining and
    exploration costs and in turn, earn up to 50% of the revenue and
    profits from Future Mine Plans.
    If FMR elect not to proceed with a Future Mine Plan, Barra may
    assume 100% risk and reward and commence the Future Mine
    Plan independently.
    The term of the agreement is for 3 years, with FMR also having
    the option to extend for a further 3 years.


 
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