DGAP-News
Deutsche Rohstoff AG: Hammer Metals and Newmont Mining sign Farmin Joint Venture Agreement on Mount Isa Project - Seite 2
of the project. In case that Hammer does not participate Newmont will
cover all cost until the production start of a potential mine and in
exchange will receive 80% of the Joint Venture. Hammer will be obliged
to repay those costs carried by Newmont and associated interest out of
the cash flow from production.
- The already defined resources "Overlander South" and "Overlander North"
are excluded from the Joint Venture. Newmont has received a right of
first refusal for these properties after Phase I.
- Over all Phases Newmont will make technical resources as well as
geological expertise available to the Joint Venture.
Alex Hewlett, CEO of Hammer Metals, said: "We have been working on this
deal for quite some time and the opportunities it brings are obvious to us.
Newmont's contribution gives our exploration budget a major boost. It
allows Hammer to accelerate exploration activities for both, the JV
tenements as well as the areas that fully remain under Hammer's control.
The large size of the mineralizing systems and evidence of the target
mineralization provides strong encouragement for the discovery of a major
deposit."
Jörg Reichert, CTO of Deutsche Rohstoff comments: "We are pleased to see
Hammer forming a Joint Venture with Newmont. There are not many exploration
companies in the current market that manage to attract money and long term
commitments from major mining companies. It is a testimony for the
prospectivity of Hammer Metal's tenements, which has been the reason for
Deutsche Rohstoff to become a major shareholder of the company a year ago."
Further details of the original Hammer metals press release can be found
under www.hammermetals.com.au.
Heidelberg, 15 December 2015
Deutsche Rohstoff identifies, develops and divests attractive resource
projects in North America, Australia and Europe. The focus is on the
development of oil and gas opportunities within the United States. Metals,
such as gold, copper, rare earth elements, tungsten and tin complete our
portfolio. For more information please visit www.rohstoff.de.
Contact:
Deutsche Rohstoff AG
Thomas Gutschlag
Tel. +49 6221 871 000
info@rohstoff.de
---------------------------------------------------------------------------
15.12.2015 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------------
Language: English
Company: Deutsche Rohstoff AG
Friedrich-Ebert-Anlage 24
69117 Heidelberg
Germany
Phone: 06221-87100-11
Fax: 06221-87100-22
E-mail: gutschlag@rohstoff.de
Internet: www.rohstoff.de
ISIN: DE000A0XYG76, DE000A1R07G4,
WKN: A0XYG7, A1R07G
Indices: Entry Standard (Performance TOP 30)
Listed: Regulated Unofficial Market in Berlin, Dusseldorf,
Stuttgart; Open Market (Entry Standard) in Frankfurt
End of News DGAP News Service
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423679 15.12.2015
geological expertise available to the Joint Venture.
Alex Hewlett, CEO of Hammer Metals, said: "We have been working on this
deal for quite some time and the opportunities it brings are obvious to us.
Newmont's contribution gives our exploration budget a major boost. It
allows Hammer to accelerate exploration activities for both, the JV
tenements as well as the areas that fully remain under Hammer's control.
The large size of the mineralizing systems and evidence of the target
mineralization provides strong encouragement for the discovery of a major
deposit."
Jörg Reichert, CTO of Deutsche Rohstoff comments: "We are pleased to see
Hammer forming a Joint Venture with Newmont. There are not many exploration
companies in the current market that manage to attract money and long term
commitments from major mining companies. It is a testimony for the
prospectivity of Hammer Metal's tenements, which has been the reason for
Deutsche Rohstoff to become a major shareholder of the company a year ago."
Further details of the original Hammer metals press release can be found
under www.hammermetals.com.au.
Heidelberg, 15 December 2015
Deutsche Rohstoff identifies, develops and divests attractive resource
projects in North America, Australia and Europe. The focus is on the
development of oil and gas opportunities within the United States. Metals,
such as gold, copper, rare earth elements, tungsten and tin complete our
portfolio. For more information please visit www.rohstoff.de.
Contact:
Deutsche Rohstoff AG
Thomas Gutschlag
Tel. +49 6221 871 000
info@rohstoff.de
---------------------------------------------------------------------------
15.12.2015 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------------
Language: English
Company: Deutsche Rohstoff AG
Friedrich-Ebert-Anlage 24
69117 Heidelberg
Germany
Phone: 06221-87100-11
Fax: 06221-87100-22
E-mail: gutschlag@rohstoff.de
Internet: www.rohstoff.de
ISIN: DE000A0XYG76, DE000A1R07G4,
WKN: A0XYG7, A1R07G
Indices: Entry Standard (Performance TOP 30)
Listed: Regulated Unofficial Market in Berlin, Dusseldorf,
Stuttgart; Open Market (Entry Standard) in Frankfurt
End of News DGAP News Service
---------------------------------------------------------------------------
423679 15.12.2015
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