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.
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Melbourne Investor Sessions, Tuesday, 30th August 2016
Sydney Investor Sessions, Wednesday, 31st August 2016
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