Cassini Resources Ltd's (ASX:CZI) managing director, Richard Bevan, recently orchestrated a plan to fast-track the development of the company’s wholly-owned West Musgrave Project in Western Australia.
Cassini signed a binding Heads of Agreement with OZ Minerals Ltd (ASX:OZL), who can earn up to a 70% interest in the project by sole funding a minimum of $36 million on development and exploration.
This therefore provides Cassini with free-carry through completion of a Definitive Feasibility Study and decision to mine.
The deal includes a minimum $8 million of expenditure on regional exploration, and provides a clear and defined development pathway to cashflow.
Cassini will manage the Nebo-Babel Definitive Feasibility Study and regional exploration work program.
West Musgrave is Australia’s largest undeveloped copper nickel deposit, with over 200 million tonnes of resource at 1.28% copper equivalent that could be mined with a shallow open pit.
Find out more from Richard Bevan, managing director, at Proactive's Spotlight CEO Sessions in Melbourne and Sydney in August 2016.
Melbourne Investor Sessions, Tuesday, 30th August 2016
Sydney Investor Sessions, Wednesday, 31st August 2016
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