Calidus Resources (ASX: CAI)
Has signed a binding framework agreement which gives Calidus an exclusive right to negotiate binding agreements for access to all Haoma’s gold tenements, deposits and stockpiles across the East Pilbara on the basis of a 60:40 profit share (Calidus:Haoma).
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Calidus Resources Location-of-the-Warrawoona-Gold-Project, East Pilbara, Western Australia.
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| Calidus Resources | ASX: CAI |
| Stage | Production, exploration |
| Metals | Gold, lithium |
| Market Cap | A$99 m @ A$0.18 |
| Location | Pilbara, Western Australia |
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Calidus Resources Signs an Agreement With Haoma
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Calidus Resources Limited (ASX:CAI) is pleased to advise that it has signed a
binding framework agreement which gives Calidus an exclusive right to negotiate
binding agreements for access to all Haoma’s gold tenements, deposits and stockpiles
across the East Pilbara on the basis of a 60:40 profit share (Calidus:Haoma).
Over many years, Haoma has secured a large number of historic mines in the region
and has mined many of these deposits.
Although Haoma has access to the Bamboo Creek Mill, its small size (100,000 tpa) results in very high processing costs.
Calidus’ Warrawoona gold project is now performing 20% above design capacity with
low operating costs. This allows for many of the Haoma stockpiles and deposits that
were considered to be uneconomic to be treated at Warrawoona for the benefit of both
parties.
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Calidus may form a joint venture covering any Haoma tenements in the East
Pilbara (1,135sqkm)
• These tenements host numerous known high-grade deposits including Bamboo
Creek, Comet, Blue Bar, Mickeys Find and Normay and stockpiles
• The deposits are all within trucking distance of Calidus’ Warrawoona gold project
and all are located on granted Mining Leases
• Proposed JV terms provides for a 60:40 profit share (Calidus:Haoma)
• Potential to access stockpiles in the very near-term
• Full review of stockpiles and deposits now underway
• This proposed gold JV is in addition to the previously-announced lithium
agreements between Calidus and Haoma; These tenements are held by Pirra
Lithium.
For brevity, this summary has been redacted, to read the full news release, please click HERE
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If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com
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Disclosure
At the time of writing the author holds no shares in Calidus Resources
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