December 13, 2017 / 11:44 AM / 8 months ago

BRIEF-Teranga Gold Says Entered Into MoU With Sodim To Establish JV

Dec 13 (Reuters) - Teranga Gold Corp:

* TERANGA GOLD SAYS HAS ENTERED INTO MOU WITH SODIM TO ESTABLISH JV FOR EXPLORATION AND DEVELOPMENT OF AFEMA LAND PACKAGE IN CÔTE D’IVOIRE

* TERANGA GOLD CORP - SODIM WILL RECEIVE $2.5 MILLION UPON SIGNING OF MEMORANDUM OF UNDERSTANDING

* TERANGA GOLD CORP - SODIM WILL RECEIVE PROGRESSIVE PAYMENTS OF UP TO $7.5 MILLION WITH DELIVERY OF A POSITIVE FEASIBILITY STUDY

* TERANGA GOLD CORP - UNDER TERMS OF MEMORANDUM OF UNDERSTANDING, TERANGA CAN EARN A 70% INTEREST IN AFEMA JV

* TERANGA GOLD - CO’S INTEREST IS THROUGH COMPLETION OF 3-YEAR $11 MILLION EXPLORATION, COMMUNITY RELATIONS PROGRAM ON AFEMA ML, AFEMA PERMITS, AMONG OTHER

* TERANGA GOLD CORP - WILL SOLE FUND AND MANAGE EXPLORATION PROGRAMS AND FEASIBILITY STUDIES UNDER AFEMA JV

* TERANGA GOLD - UPON CO’S DELIVERY OF POSITIVE FEASIBILITY STUDY, SODIM CAN MAINTAIN 30% INTEREST OR CONVERT HOLDINGS TO 3% NET SMELTER ROYALTY Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below