Termination of the EEJV will also render the Small Mines Joint Venture with TRL inoperative
Emmerson Resources has today issued a notice to to TRL Tennant Creek Pty Ltd (“TRL”) to terminate the Exploration Earn-in and Joint Venture Agreement (“EEJV”) over the Southern Project Area (“SPA”) at Tennant Creek. The EEJV terminates immediately on serving the notice.
A default notice in respect of the Tribute Agreement covering mining at the Edna Beryl Mine. TRL have 28 days to remedy all breaches referred to in the default notice otherwise the Tribute Agreement terminates.
Termination of the EEJV will also render the Small Mines Joint Venture with TRL inoperative.
The Company has taken this action to clear a path to deliver our royalty business model and accelerate exploration to continue to build a high-grade gold pipeline.
Emmerson retains 100% ownership of the Southern Project Area which hosts the Eldorado, Susan, Black Snake, TC8, Malbec West and Chariot projects. Emmerson also hold 100% of the Northern Project Area which hosts the Jasper Hills, Golden Slipper, Edna Beryl and recently discovered, high grade gold, Mauretania project where drilling is scheduled to commence later this month.
Source: Company Press Release