Edition:
India

Teranga Gold Says Entered Into MoU With Sodim To Establish JV


Wednesday, 13 Dec 2017 

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. 

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13 Sep 2019