Projects
West Kalgoorlie Joint Venture (retained Gold Production Royalty interest)
Carbine Resources retains a royalty interest in specificed tenements that were part of a previously negotiated Farm-in and Joint Venture Agreement with Cazaly Resources Limited (ACN 101 049 334) known as the West Kalgoorlie JV. The Agreement was entered into in May 2007 and terminated through mutual agreement in October 2008.
The royalty is for AUD$40 per ouce of gold production for the first 75,000 ounces followed by a one-off cash payment of $3,000,000 when combined gold production from the tenements reaches 140,000 ounces.
The specified tenements contain mineral resources of 597,700 ounces of gold (refer to West Kalgoorlie JV: Mineral Resource Estimate as at October 2008 below).
