Serengeti Diamonds (SGD-V) has entered into a joint-venture agreement with Anglo American subsidiary Anmercosa Exploration (Tanzania) and a Tanzanian company, Dhahabu Exploration and Mining, on two gold prospecting licences in the Lupa Goldfields district of southwestern Tanzania.
Under the deal, Anmercosa will earn a 40% interest in the PL22/92 and PL23/92 licences upon completion of a prefeasibility study on any portion of the licences, with Dhahabu retaining a 60% interest. Anmercosa can then increase its stake to 75% upon completion of a feasibility study. Serengeti will retain a 25% carried interest in Anmercosa’s earned interest through feasibility.
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