Newcrest Mining Limited
(ASX:NCM) has signed a deal with Apollo Consolidated Limited
(ASX:AOP) for an option to buy Apollo’s 80 per cent interest Seguela Gold Project.
The project is located on the Ivory Coast in West Africa and Apollo has been exploring the site for the past five years.
Under the deal Newcrest will manage and fund two years exploration on the permit.
The funding will give Apollo the chance futher explore its 100 per cent owned permits elsewhere on the Ivory Coast.
Newcrest reported a net profit of $560 million for the 2015 financial year.
