Cassini Resources Ltd's (ASX:CZI) managing director, Richard Bevan, joined Proactive's Spotlight CEO Investor Sessions in Melbourne and Sydney this week, outlining the company's joint venture with producer OZ Minerals Ltd (ASX:OZL).
Cassini signed a binding Heads of Agreement with OZ, who can earn up to a 70% interest in the West Musgrave Project in Western Australia, 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.
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