SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  For example, here is how to disable FireFox ad content blocking while on Silicon Investor.
Gold/Mining/Energy : Rare Earth Elements and Exotic Metals

 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: LoneClone who wrote (15921)5/17/2019 10:52:40 AM
From: LoneClone  Read Replies (1) of 15938
 
Denham to support Diamond Fields’ Madagascar zircon project


miningweekly.com

17th May 2019

By: Creamer Media Reporter

TSX-V-listed Diamond Fields Resources (DFR) on Thursday unveiled a cooperation agreement with private equity firm Denham Capital’s Denham Mining Fund, which also includes an option agreement that could see the junior being carried to production at the Beravina zircon project, in Madagascar.

Denham Mining Fund’s TMH Acquisition would make an immediate payment of $250 000 to DFR and would fund the project’s 2019 work programme, which would entail $500 000 over seven months.

Once completed, TMH would have the option to acquire 100% of the project for $2-million and a 9% sales royalty. If exercised, TMH would incur all future capital and operating expenditures, while DFR would benefit in perpetuity from its right to 9% of all future mineral sales.

TMH would have to place the project into production by no later than June 30, 2023.

"We are pleased to have secured the cooperation of such a strong financial and technical partner for Beravina. We have confidence that the 2019 work programme will meet expectations and confirm the technical merits of the project. If the option is exercised, DFR will be in the enviable position of being carried through to production at no cost whilst retaining a very substantial economic stake in future sales revenue from Beravina,” said CEO Sybrand van der Spuy.

DFR’s share price fell by 10.5% on Thursday to C$0.26 a share.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext