CAPITAL MARKETS

Giants Reef wins race for Chariot

GIANTS Reef Mining has acquired the 43% of the Chariot project in the Northern Territory held by Sons of Gwalia for a minimum of $6.9 million, paving the way for first gold production by mid-2003.

Michael Quinn

Giants Reef will pay $5.4 million on settlement, and $1.5 million 30 days after the maiden gold pour. A third, undisclosed payment, is described by the company as being performance related. Giants...

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