Acacia Mining satisfies conditions precedent for South Houndé earn-in
TORONTO (miningweekly.com) – West Africa-focused gold explorer Sarama Resources on Monday reported that Acacia Mining (formerly African Barrick Gold) had satisfied the conditions precedent of an agreement that would see Acacia earn a 70% interest in the South Houndé project, in Burkina Faso.
Under the terms of the agreement, Acacia could earn up to a 70% interest in the project by satisfying certain conditions. These included funding earn-in expenditures of up to $14-million over a four-year earn-in period and the right to acquire an additional 5% interest, for a total 75% interest in the project, after declaring a minimum mineral reserve of 1.6-million ounces of gold.
To this end, Sarama had received payment of $1-million from Acacia and the TSX-V had approved the transaction to close.
The South Houndé project comprised seven contiguous exploration licences spanning 814 km2.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation