Brief: Carawine Resources Updates On Status Of Farm-In & JV Agreement With FMG Resources

Carawine Resources

04/04/2023 02:10

April 4 (Reuters) - Carawine Resources Ltd  CWX.AX :
    * UPDATES ON STATUS OF ITS FARM-IN AND JOINT VENTURE
AGREEMENT
WITH FMG RESOURCES PTY
    * FORTESCUE HAS RIGHT TO EARN UP TO A 75% INTEREST IN LAMIL
HILLS,
TROTMAN SOUTH, SUNDAY AND EIDER TENEMENTS
    * FORTESCUE HAS RIGHT TO EARN UP BY SPENDING A$6.1 MILLION
IN TWO
STAGES OVER A SEVEN-YEAR PERIOD TO END OF 2026
    * FORTESCUE ELECTED TO EARN ADDITIONAL 24% STAKE IN
TENEMENTS BY
SOLE-FUNDING A$4.5 MILLION OF EXPLORATION EXPENDITURE
    * FORTESCUE ELECTED TO EARN ADDITIONAL 24% INTEREST IN
COOLBRO JV
TENEMENTS BY END OF 2026

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