EXPLORATION & DEVELOPMENT

Coppermoly joins with Barrick in PNG

SHARES in Papua New Guinea-focused explorer Coppermoly nearly doubled this morning after the company said it has signed a letter agreement with mining giant Barrick Gold Corporation for a farm-in and joint venture deal, which could be worth up to $A20 million.

Kristie Batten

Coppermoly joins with Barrick in PNG

Barrick can earn up to a 72% interest in Coppermoly’s three projects on New Britain Island by spending up to $20 million. Under the deal, Barrick is obligated to spend $3 million within the first two...

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