Manas Resources concluded an agreement with Perseus Mining to acquire its Mbengué gold project in Côte d’Ivoire. The project is located near Randgold Resources’ Tongon mine.

Under the agreed terms, Manas will initially invest $300,000 (repayable) over 6 months to further evaluate the project's potential. Subsequently, it could then acquire up to a 70% interest in the project by investing another $2 million over 3 years. Both ASX-listed companies will then form a 70/30 joint venture to develop the mine.

“The earn-in agreement over the strategically located Mbengue gold project provides an opportunity for the company to rapidly accelerate exploration activities in Cote d’Ivoire,” Manas Resources chairman Mark Calderwood (photo) said.

Let’s note that Manas Resources is also active on Gonsan and Bouaké North project in Côte d’Ivoire.

Louis-Nino Kansoun