$25M+ Strategic JV Agreement with Endeavour Mining

Summary by AI BETAClose X

East Star Resources Plc has entered into a binding Earn-In and Joint Venture Agreement with Endeavour Exploration Limited, a subsidiary of Endeavour Mining PLC, for gold exploration in Kazakhstan. Endeavour can earn up to an 80% interest in a new joint venture company by investing US$5 million within two years for a 51% stake, an additional US$20 million over three years for a 70% stake, and by funding a Pre-Feasibility Study for a further 10%. East Star will retain a 20% interest and will act as Manager during the initial phase, receiving remuneration and milestone payments based on resource and PFS outcomes.

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