HIGHLIGHTS A Farm-in Agreement has been executed between Newcrest and Oro Verde to fund and explore the Topacio Gold Project in Nicaragua Newcrest and Oro Verde are targeting a multi-million ounce high grade epithermal gold deposit at Topacio, with exploration to commence almost immediately
Oro Verde holds an Option to Purchase Agreement to acquire 100% of the Topacio Gold Project1 to be exercised by February 2018
Newcrest may sole fund US$4.4 (A$6.1) million of exploration and expenditure, including the costs of exercising Oro Verde’s Option, to earn an initial 51% interest Newcrest may earn an additional 24% interest (75% total) by sole funding a further US$3.5 (A$4.9) million of expenditure over the following three years [for a total commitment of US$7.9 (A$11.0) million over ~5 years] Oro Verde will continue to manage the exploration program during the Farm-in period
excerpt from ann @ 30/11/15. from their webpage. has OVL just exercised their right in farsight??
OVL Price at posting:
1.0¢ Sentiment: Hold Disclosure: Not Held
