St Barbara (ASX:SBM) and Australian Potash (ASX:APC) JV earn in

Company News

by Katrina Bullock

St Barbara (ASX:SBM) has paid $1.75 million to fulfil its expenditure obligation under the first earn-in period for the Lake Wells Gold Project joint venture with Australian Potash (ASX:APC).

St Barbara is also reimbursing $318,000 of drilling expenditure already incurred by Australian Potash.

St Barbara will now proceed to the second earn-in period, under which it will contribute $3.5 million to earn up to a 70 per cent interest in the Lake Wells Gold Project tenements.

Shares in St Barbara (ASX:SBM) are trading 0.9 per cent higher at $2.73.