St Barbara inks earn-in and joint venture agreement with Australian Potash

Company News

by Anna Napoli

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Last Updated: 21/02/2020 1:27 PM

St Barbara (ASX:SBM) has entered into an Earn-in and joint venture agreement with Australian Potash covering tenements at the Lake Wells Gold Project.

St Barbara will pay Australian Potash $1.25 million in cash consideration to enter the agreement.

There is a minimum exploration spend of $1.75 million during the initial 12 month Earn-in period.

Following the initial earn-in period St Barbara can elect to earn a 70 per cent interest in the project by spending a further $3.5 million over 24 months.

The investment is aligned with the company's strategy of targeted investments in early to advanced stage exploration through earn-in arrangements, joint ventures or direct equity investments.

Shares in St Barbara (ASX:SBM) are trading 0.81 per cent higher to $3.73

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.