https://newsletter.en.creamermedia.com
Exploration|Gold|Projects|Resources
Exploration|Gold|Projects|Resources
exploration|gold|projects|resources

Carnavale divests noncore Leonora assets

6th November 2024

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

Font size: - +

Gold exploration and development company Carnavale Resources on Wednesday announced the planned sale of its E40/394 licence, near Leonora in Western Australia, to US-based KoBold.

The sale formed part of its strategy of crystallising value from noncore exploration assets, while maintaining a strong focus on gold exploration and development at the Kookynie and Ora Banda South projects.

KoBold has an exclusive right to acquire the tenement for A$405 000. KoBold will grant Carnavale a 1% net smelter return royalty upon completion of the exploration rights transfer, half of which may be bought back by KoBold at any time for A$1-million.

Carnavale CEO Humphrey Hale said KoBold had an experienced corporate team that was looking for exploration success in Western Australia.

“The transaction will allow Carnavale to continue our aggressive focus on the Kookynie and Ora Banda gold projects in Western Australia, while allowing us to share in the upside with KoBold on one of our noncore assets,” he said.

Edited by Creamer Media Reporter

Comments

Showroom

VEGA Controls SA (Pty) Ltd
VEGA Controls SA (Pty) Ltd

For over 60 years, VEGA has provided industry-leading products for the measurement of level, density, weight and pressure. As the inventor of the...

VISIT SHOWROOM 
SABAT
SABAT

From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (15/11/2024)
15th November 2024 By: Martin Creamer

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.095 0.195s - 190pq - 2rq
Subscribe Now