Normandy Mt Leyshon joint venture in place.
As to newmount this is pure speculation (but sounds good to me!).
I had a message from my broker a couple of weeks ago that a major
had been walking through Longline property my guesses where:
Barrick, Placer Dome (Scott Broughton one of the directors
has done previous for them) or Newmount.
My broker passed on rumor about joint venture with Australian
major before Normandy deal was annonced. He also informed me to withdraw bids I had in at .25 as insiders
would be selling at .20 to quickly raise funds. I took his advise
and picked up a large parcel at this price. So he has been good at
providing useful info. I have been tracking Barramundi since they
first floated and have been extremely impressed with how they
operate. The fact that they are able to raise funds and sign deals
with a major in an envionment like this (really bad for jnrs since
bre-x fiasco) is indicative of some big money and companies starting
to see this company as having big potential.
I recently got an information package which included an outline for
a trial mine at Longline, so things are really starting to heat up
and the company is pursueing a very aggressive schedule to avoid
exploration capital drain.
I would strongly recommend you obtain a copy of their Longline
leaflet, it makes for interesting reading.
Find following the new release on Normandy Mt Leyshon agreement.
>>>> Quote <<<<
JOINT VENTURE AGREEMENT FINALIZED WITH NORMANDY MT. LEYSHON LIMITED
Barramundi Gold Ltd. ("Barramundi") is pleased to announce that it has entered into an arms-length joint venture agreement with Normandy Mt. Leyshon Limited ("NML") for the exploration of Barramundi's 1,000 square kilometre Wandoo property in North Queensland, Australia. The agreement was entered into on behalf of Mangrove Jack Pty. Ltd., a 92% owned Barramundi subsidiary and holder of the Wandoo Option.
NML is a member of the Normandy Group and is Australia's largest gold producer, with annual production of 1.5 million ounces. NML is also the owner/operator of the Mt. Leyshon gold mine, also in North Queensland, which produces 200,000 ounces gold per annum. Barramundi's exploration work to date has identified several Mt. Leyshon style breccia pipe targets on the Wandoo property.
The Agreement allows NML to earn up to 70% interest in the property by incurring exploration expenditures of $2,500,000 over the four year term of the agreement, including $250,000 in the first six months.
NML will be the operator of the exploration program and has already mobilised a geological crew to the site. The joint venture will enable continued exploration of the Wandoo property and allow Barramundi to focus efforts on exploration of its Longline property in the Yukon Territory.
For more information please contact:
CANADA - HEAD OFFICE
John Haley, Director and CFO or,
Mr. Scott Broughton, P.Eng., President
Vancouver, Canada
(604) 681-7136 (phone)
(604) 681-7120 (fax)
AUSTRALIA
Mr. Bob Burban, Director of Exploration
Melbourne, Australia
011-61-39-606 0233 (phone)
011-61-39-606-0393 (fax)
THE ALBERTA STOCK EXCHANGE HAS NEITHER APPROVED NOR DISAPPROVED THE INFORMATION CONTAINED HEREIN. |
