Business
Awalé Update: Newmont to Exercise 10% Minority Interest Option on the Odienné Joint Venture
Vancouver, British Columbia--(Newsfile Corp. - October 15, 2024) - Awalé Resources Limited ...
About this update from Awale Resources Limited
[{"type":"text","content":"Awalé Update: Newmont to Exercise 10% Minority Interest Option on the Odienné Joint VentureVancouver, British Columbia--(Newsfile Corp. - October 15, 2024) - Awalé Resources Limited (TSXV: ARIC) (\"Awalé\" or the \"Company\") announces that Newmont Ventures Limited, a wholly owned subsidiary of Newmont Corporation (NYSE: NEM) (TSX: NGT) (ASX: NEM) (PNGX: NEM) (\"Newmont\"), has provided notice of its intention to acquire the 10% minority equity interest in the Odienné Joint Venture (JV) Project in Côte d'Ivoire (see Figure 1). The minority interest is currently held by the shareholders of Africa New Geological Technologies Côte d'Ivoire SARL (\"ANGET\"). This notice is in accordance with the Exploration Agreement with Venture Option, signed on May 27, 2022 (see May 31, 2022 news release), and follows Newmont's recent completion of Phase 1 of its Earn-In, which has vested it with a 51% controlling interest in the joint venture.Andrew Chubb, CEO of Awalé Resources, commented: \"This JV level investment places a spotlight in the prospective nature of the Odienné District, highlighting not only the Joint Venture, but Awalé's 100% owned ground in the district. We look forward to our continued partnership with Newmont alongside this increased stake in the JV project and delivering new results from our properties along strike from the JV ground.\"Figure 1: Awalé Resources permits in the Odienné district - 2463 square kilometres in seven permits, with approximately one-third (1/3) of this (800 square kilometres) joint ventured with Newmont.To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/10016/226604_3ae2ae0474100b53_002full.jpgAbout Awalé ResourcesAwalé is a diligent and systematic mineral exploration company focused on discovering large high-grade gold and copper-gold deposits. The Company currently undertakes exploration activities in the underexplored regions of Côte d'Ivoire. Awalé's exploration success to date has culminated in a fully funded earn-in joint venture with Newmont Ventures Limited (\"Newmont\"), covering one permit and one application (the \"Odienné Project JV\"), within the greater Odienné Copper-Gold Project in the northwest of Côte d'Ivoire, where three gold, gold-copper, and...