https://www.engineeringnews.co.za

Sandfire buys Ventnor out at Green Dragon project

23rd August 2016

By: Megan van Wyngaardt

Creamer Media Contributing Editor Online

  

Font size: - +

JOHANNESBURG (miningweekly.com) – ASX-listed Sandfire Resources is purchasing the remaining 65% of joint venture (JV) partner Ventnor Resources’ Thaduna/Green Dragon copper project for $3-million.

Sandfire will pay Ventnor $2-million in shares, a further $1-million if it decides to mine the project and a 2% net smelter return royalty of up to 90 000 t of copper and an ongoing 1% royalty on further production.

Ventnor entered a JV with Sandfire over Thaduna/Green Dragon in December 2013.

At the time, Sandfire paid Ventnor $3-million for an initial 35% interest in the project with the ability to earn up to 80% under the terms of the JV.

The Thaduna/Green Dragon project is located 40 km east of Sandfire’s flagship DeGrussa project and represents the largest known copper resource in the Doolgunna-Bryah basin region outside of DeGrussa.

The deal will allow Ventnor to maintain an interest in the project while releasing funds for its Black Dragon copper/nickel prospects north-east of Kalgoorlie.

Edited by Mariaan Webb
Creamer Media Contract Publishing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

ACTOM
ACTOM

Your one-stop global energy-solution partner

VISIT SHOWROOM 
ZF Aftermarket
ZF Aftermarket

ZF Aftermarket is the after-sales division of the world-renowned German ZF group, a global leader in mobility technology.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.05 0.728s - 140pq - 2rq
Subscribe Now