Agence Ecofin TikTok Agence Ecofin Youtube Agence WhatsApp

Mining

Burkina Faso: Predictive Discovery and Progress Minerals sign JV agreement over gold projects

Monday, 18 September 2017 19:32

(Ecofin Agency) - Mining firm Predictive Discovery signed with Canadian Progress Minerals a Joint-Venture (JV) agreement over its gold exploration permits in Burkina Faso. In effect, the JV aims at developing a mine on Predictive’s prospects. The JV aims to advance towards a future multi-pit mine development on Predictive’s gold prospects.

Under the agreement, Progress Minerals can acquire a stake of up to 70% in the project against $5 million to finance a program of exploration and evaluation.

Funding will be in three phases. The first involves the provision of $1 million for a 51% stake, the second will involve the disbursement of additional $1.5 million to increase its stake to 60%, and the last to acquire 10% for $2.5 million.

According to Paul Roberts, MD Predictive, drilling should start by October and end in December, this year. The executive of course recalled the JV agreement that already links the two firms on the Bobosso project in Côte d’Ivoire.

Louis-Nino Kansoun





 
Finance


 
Telecom


 
Public Management


ECOFIN AGENCY offers a selection of articles translated from AGENCE ECOFIN. Founded in 2011, Agence Ecofin is a leader in Francophone Pan-African economic news, particularly in West and Central Africa. The agency publishes daily news on nine African economic sectors: Public Management, Finance, ICT, Agribusiness, Energy, Mining, Transport & Logistics, Communication, and Training.

AGENCE ECOFIN
Mediamania Sarl
Rue du Léman, 6
1201 Genève
Tél: +41 22 301 96 11

EDITORIAL TEAM
redaction@agenceecofin.com

ADVERTISING SALES
Benjamin FLAUX
bf@agenceecofin.com
Tél: +41 22 301 96 11
Mob: +41 78 699 13 72

 

Please publish modules in offcanvas position.