Brief: Goldstrike forms strategic alliance with Newmont and its unit

Trailbreaker Resources

06/03/2017 17:13

March 6 (Reuters) - Goldstrike Resources Ltd  GSR.V  : 
    * Entered into a strategic alliance with Newmont Mining 
Corporation and its subsidiary, Newmont Canada FN Holdings ULC 
    * If Newmont elects to proceed with phase 2, it must incur 
minimum of an additional $16 million in exploration expenditures 
    * Newmont agreed to purchase 12.7 million units of 
Goldstrike by way of non-brokered private placement at price of 
C$0.4742 per unit 
    * Under strategic alliance, Goldstrike has agreed to grant 
to Newmont right to earn 51% interest in Goldstrike's plateau 
project 
    * After completion of phase 2, Newmont must fund all 
expenditures on plateau 
    * If Newmont does not complete phase 1 or phase 2, its 
interest will revert to 49% in Co's plateau project 
    * Proceeds from placement to be used to fund 2017 
exploration program on plateau project, which will be jointly 
managed by Newmont,Co 
 
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Further company coverage:  GSR.V  
 
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