Conroy Gold and Natural Resources PLC (AIM:CGNR) (Conroy Gold and Natural Resources PLC (AIM:CGNR)) chairman Professor Richard Conroy joins Proactive with news of their proposed joint venture with Demir Export.
The company has reached an agreement on the main terms for a definitive agreement with Demir, most of which are similar to those outlined in the letter of intent to form a joint venture, published back in February.
Demir’s earn-in period will be divided into three phases, the first of which will see the Turkish mining company pay €5.5mln plus the costs of the joint venture (JV) companies in return for a 25% stake in the JVs.