Investigator Resources (ASX:IVR) has settled a dispute with its JV partner by acquiring Mega Hindmarsh Pty Limited's 25% interest in the JV that covers the Paris silver project and satellite targets in South Australia.
This followed a Notice of Default sent to Mega for its failure to pay JV contributions totalling $2,954,984.94 to 31 March 2014.
Investigator will issue 12,011,569 shares in the Company to Mega as consideration for the acquisition. The shares issued to Mega will be subject to a 12 month escrow period.
Which is good news as Investigator looks to get cracking after raising funds at the Paris project with a grade of 110g/t silver among the highest in Australia and 20 million ounces of resource.
The resource is also relatively shallow from five to 150 metres from surface.
Preliminary metallurgy showed positive recoveries indicate conventional pathways & optimisation potential.
A high grade component was about 30% of the resource tonnes contains 60% of the contained silver ounces.
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