Terrain Minerals Ltd (Terrain) has reached an in principle agreement with Bundarra Mining Pty Ltd (Bundarra), a consortium of established mining contractors to open pit mine at the Celtic and Great Western gold deposits. The parties will now proceed to formal documentation.
Bundarra will provide all the working capital, with no charge to TMX and the mine profits will be divided 50:50 between TMX and Bundarra.
That was June 2009.
TMX Price at posting:
5.6¢ Sentiment: None Disclosure: Held
