Newcrest signs farm-in agreement with Prodigy Gold

Company News

by Anna Napoli

Newcrest Mining (ASX:NCM) has inked a farm-in agreement with Prodigy Gold for its highly prospective Euro Project in the Northern Territory.

Under the deal Newcrest will provide $12 million in funding over seven years to ultimately earn up to a 75 per cent interest in the project.

The Euro Project covers almost 3500 square kilometres of exploration licenses and applications from the Tanami Region of the Northern Territory.

Newcrest and Prodigy are combining technical skills and intend to commence exploration during the third quarter of 2018.

Shares in Newcrest Mining (ASX:NCM) are trading 0.42 per cent higher to $21.45.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.