WMT lastest JV:
"Western Metals’ Interest
Western Metals has entered into an agreement with Peruvian company SMRL Rustica Claudia 5 that guarantees an exclusive right to a 51% stake in the project pending due diligence and government approval. Western Metals equity increases to 70% after a USD$340k payment.
Western Metals will then consolidate its stake to 100% after funding exploration and a total of USD$2.5M has been paid to the JV partner within a four year period. SMRL Rustica Claudia 5 has the right to a 2% NSR of any mineral production from the Lukkacha project.
Target
The target at Lukkacha is a large tonnage Cu-Mo-Au porphyry deposit similar to other deposits in the region. Companies mining and exploring in Peru include BHP Billiton, with Rio Tinto, Anglo American, Barrick and Newmont holding exploration tenements adjacent to the Lukkacha project."
With $34M of Market Capitalisation and $5 M in the Bank Looks like they are expanding with in their means.
"Western Metals’ Interest
Western Metals has entered into an agreement with Peruvian company SMRL Rustica Claudia 5 that guarantees an exclusive right to a 51% stake in the project pending due diligence and government approval. Western Metals equity increases to 70% after a USD$340k payment.
Western Metals will then consolidate its stake to 100% after funding exploration and a total of USD$2.5M has been paid to the JV partner within a four year period. SMRL Rustica Claudia 5 has the right to a 2% NSR of any mineral production from the Lukkacha project.
Target
The target at Lukkacha is a large tonnage Cu-Mo-Au porphyry deposit similar to other deposits in the region. Companies mining and exploring in Peru include BHP Billiton, with Rio Tinto, Anglo American, Barrick and Newmont holding exploration tenements adjacent to the Lukkacha project."
With $34M of Market Capitalisation and $5 M in the Bank Looks like they are expanding with in their means.
