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September 12, 2018

Cradle Arc subsidiary signs deal for Kossanto West gold project

Cradle Arc’s wholly owned subsidiary Caracal Gold Mali has signed a joint venture (JV) agreement to advance its Kossanto West gold project in western Mali.

Cradle Arc’s wholly owned subsidiary Caracal Gold Mali has signed a joint venture (JV) agreement to advance its Kossanto West gold project in western Mali.

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The JV deal with Indiana Resources’ subsidiary Mukuyu Resources (Mali) for the exploration and development of the project is consistent with Cradle Arc’s strategy to retain exposure to its African gold exploration portfolio while minimising investment.

“There will be minimal impact on the company’s balance sheet as we continue to focus on our core asset in Botswana.”

The 137km² Kossanto West gold project comprises the Kobokoto Est and Koussikoto exploration permits.

Under the terms of the agreement, Indiana Resources is required to incur expenses for all project-related costs up to and including the completion of a pre-feasibility study (PFS).

Once the PFS is completed, Indiana Resources will own a 65% participating interest in the exploration permits and the remaining 35% interest will be held by Cradle Arc.

Thereafter, the JV parties will share the project costs proportionate to their participating interest.

Cradle Arc CEO Kevin van Wouw said: “This agreement enables Cradle Arc to advance its highly prospective West African gold assets, whilst maintaining its primary strategic focus on the development of the Mowana Copper Mine.

“The terms of the JV do not require Cradle Arc to fund exploration activities up to the PFS stage, such that accordingly there will be minimal impact on the company’s balance sheet as we continue to focus on our core asset in Botswana.”

The JV partners will work towards the formation of a new company for the future development of the Kossanto West project.

Cradle Arc and Indiana Resources will hold 90% of the new entity and the Malian Government will own the remaining 10%.

Indiana Resources will carry out the initial work programme over the first 12 months.

The programme includes additional geological mapping of Kossanto West with potential follow up pitting and trenching activities and reconnaissance drilling.

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img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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