Matsa, AngloGold Ashanti sign $70.4m deal for WA gold project [Yahoo! Finance]

AngloGold Ashanti PLC Ordinary Shares (AU)
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anglogoldashanti.com/investors
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Source: Yahoo! Finance
its Lake Carey gold project in Western Australia (WA) for a cash consideration of A$101m ($70.4m), contingent on certain conditions. The Lake Carey Gold Project is estimated to contain mineral resources of 949,000oz at 2.5 grams per tonne (g/t) of gold and the mineral reserve estimate is 104,000oz at 2.4g/t of gold. The consideration for the acquisition is structured as cash payments including an A$8m option fee and a potential A$73m option exercise fee, calculated based on the gold price at the time of exercise. Additionally, Matsa may receive up to A$20m in discovery royalties for new resources discovered on the tenements sold. The option granted to AngloGold Ashanti can be exercised within 18 months upon meeting specific conditions. Mat
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- 8/6/24 - Beat