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EMU NICKEL LTD - ASX: EMU
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Description
Emu Nickel has entered into a joint venture with Image Resources NL on a prospective tenement package including 24 granted exploration licences and four exploration licence applications covering 2,500sq km situated in the Yilgarn Craton, one of the world's most fertile nickel sulphide provinces. The terms of the joint venture are:
* a minimum expenditure of $1 million in the first year from listing on ASX.
* a minimum expenditure of $2 million within two years of listing, on any or all of the projects, to earn an 80% interest.
* the right to increase Emu's interest to 100% by spending an aggregate $3 million within 3 years of listing and converting Image's interest to a 1% gross royalty interest which Emu may buy out at any time on payment of $200,000.
Mine For
nickel, copper, platinum, platinum group elements, gold, zinc
Location of operation(s)
Western Australia
Address
Level 2, 35 Outram Street
WEST PERTH, WA, AUSTRALIA
Phone
(08) 9226 4266
Website
Last Updated
21/04/2010
The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.