Royal takes full ownership of JV assets
PERTH (miningweekly.com) – Minerals explorer Royal Resources on Monday announced that it had taken full ownership of the projects making up a joint venture (JV) with TSX-listed Aldershot Resources, in exchange for cancelling debt.
Royal has now taken full ownership of the George and Waterhouse West projects, in the Northern Territory, in exchange for reducing A$79 440 of debt owed to Royal.
The company said that with full ownership, it would now formulate a strategy for the future assessment of both projects, which could include a possible JV partner to fund further drilling campaigns, while its own focus would remain on the Red Dragon and Razorback projects, in South Australia.
“George’s gold potential was all but forgotten when uranium was discovered there in the 1950s. With a cooling in the uranium sector, that potential is now being reassessed,” said Royal MD Marcus Flis.
He noted that the iron potential at Waterhouse West was also "something new" and was identified by the company’s own geological team.
“While exploration is at its very early stage, there are a number of targets that demonstrate either haematite or magnetite mineralisation in an area that is very close to existing infrastructure,” Flis said.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
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















