CARBINE TERMINATES WEST KAL JV AGREEMENT
03-11-08
CARBINE AND CAZALY MUTUALLY AGREED TO TERMINATE THE WEST KALGOORLIE FARM IN AND JOINT VENTURE AGREEMENT.
AS PART OF THE TERMINATION AGREEMENT, CAZALY HAVE AGREED TO PAY CARBINE A $40/oz GOLD ROYALTY ON THE FIRST 75,000oz OF PRODUCTION AND AN ADDITIONAL $3 MILLION CASH PAYMENT WHEN GOLD PRODUCTION REACHES 140,000oz.
FOR MORE DETAILS SEE ATTACHMENT.
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