Auplata (Alternext - FR0010397760 - ALAUP), the leading listed French gold producer, is pleased to announce that it has signed a Heads of Agreement with a subsidiary of Newcrest Mining Limited, one of the world's largest gold mining companies in respect of the Mont Goma licences in the Ivory Coast held by OSEAD Mining Cote d'Ivoire SA (OMCI), a 50% subsidiary of Auplata.
The two exploration permits for Mont Goma, located near Séguéla in the west of Ivory Coast, cover a total area of approximately 674 km². They were granted to OMCI in February 2015, for a period of 4 years.
The Heads of Agreement set out the terms of a proposed Farm-in and Joint Venture through which the local Newcrest subsidiary company will earn up to a 75% interest in each licence by funding exploration spending up to US$7.5 million over five years. A geochemical prospecting campaign, completed between 2009 and 2010, highlighted four target areas. The initial exploration work on the licences aims to confirm the anomalies discovered during the previous campaigns.
At the conclusion of Newcrest's earn-in, OMCI shall have the option, to continue its involvement in the joint venture, to agree to dilute or to convert its interest into a royalty on future gold production.
This agreement is subject to various suspensive conditions, in particular preparation of final binding documents and the approval of the local authorities.
Jean-François Fourt, Chairman & CEO Auplata, comments:
" This new agreement, with a key player in the mining industry, marks an important new milestone in the development of our subsidiary OMCI in Africa, and more specifically in Ivory Coast, a country with one of the strongest growth rates on the African continent, which is currently experiencing a revival in mining activity unparalleled in its history.
After funding our mining projects in Adzopé, through the agreement concluded in 2013 with Newmont Mining, and the project at Mont Goma, with the input of the Groupe Atlantique conglomerate, present in ten or so West African countries, this agreement with Newcrest strengthens the position of our subsidiary OMCI, making it possible, in the medium-term, to envisage its listing on a stock exchange dedicated to mining-related activities, such as London or Toronto. "
Auplata is the leading listed French gold producer, based in French Guiana. In total, Auplata has mining permits and licences covering over 700 square kilometers in French Guiana. Auplata follows an innovative business and financial strategy, aimed at developing French Guiana's gold resources through close collaboration with local players. The company's goal is to offer sustainable operations for the French Guiana gold-mining industry.
Since June 2015, Auplata has held a stake in OMCI, an Ivorian mining company that owns two mining projects in Côte d'Ivoire.
Since June 2011, Auplata has held a stake in Columbus Gold, a Canadian gold exploration company listed on the Toronto Stock Exchange (Canada).
Auplata is listed on the Alternext market in Paris (Euronext). Auplata's share capital is made up of 37,463,881 shares. ISIN: FR0010397760 – ALAUP; ICB: 1777 – Gold Mining.
For more information about Auplata: www.auplata.fr.
|Mathieu Omnes||Investor relations||+33 1 53 67 36 92|
|Nicolas Bouchez||Press relations||+33 1 53 67 36 74|
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