Gold Road (ASX: GOR)
Has reached agreement with JV partner SensOre (ASX: S3N) to restructure arrangements surrounding the Yilgarn Exploration Ventures (YEV) portfolio.
SensOre has agreed to acquire Gold Road Resources’ 40% minority interest in YEV for 800,000 SensOre shares.
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Gold Road | ASX : GOR |
Stage | Production (50% JV) |
Metals | Gold |
Market cap | A$1.95 Billion @ A$1.81 |
Location | Laverton, Western Australia |
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Gold Road and Sensore Restructure YEV Joint-Venture
SensOre Ltd (ASX:S3N) is pleased to announce that SensOre and Gold Road (ASX: GOR) have reached agreement to restructure arrangements surrounding the Yilgarn Exploration Ventures (YEV) portfolio. SensOre has agreed to acquire Gold Road Resources’ 40% minority interest in YEV for 800,000 SensOre shares.
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Highlights
- SensOre and Gold Road Resources have agreed to restructure arrangements surrounding the Yilgarn Exploration Ventures (YEV) Joint Venture
- The restructure will see Gold Road convert its 40% minority position in YEV into SensOre shares
- SensOre will attain 100% of YEV and its portfolio of gold assets in exchange for issuance of 800,000 new shares in SensOre
- The new shares will be subject to a 12-month voluntary escrow period
“The restructure of the YEV joint-venture simplifies the governance and administration of the YEV portfolio.“We welcome Gold Road increasing its shareholding in SensOre. Gold Road has been an excellent partner and we look forward to ongoing collaboration on our technology.”
Yilgarn Exploration Ventures holds a portfolio of prospective gold assets in the Eastern Goldfields of Western Australia.
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About SensOre
SensOre aims to become the top performing minerals targeting company in the world through the deployment of AI and machine learning (ML) technologies, specifically its Discriminant Predictive Targeting® (DPT®) workflow.
SensOre collects all available geological information in a terrane and places it in a multidimensional hypercube or data cube. SensOre’s big data approach allows DPT predictive analytics to accurately predict known endowment and generate targets for further discovery.
The SensOre Group has built a tenement portfolio of highly prospective, wholly-owned and joint ventured technology metals tenement packages located in Western Australia.
As the capacity of SensOre’s AI technologies expand to new terranes and a broader range of commodities, the Company anticipates that new targets will be identified and acquired in Australia and internationally.
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To read the full news release, please click HERE
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Disclosure
At the time of writing the author holds shares in Gold Road Resources.
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