The purchase of a 51% interest in the Niaouleni concession in Mali from Viceroy Resources (TSE) will give Mink Mineral Resources (VSE) full ownership of the property.
Viceroy completed the earn-in of the interest last year from Mink but now plans to concentrate its West African exploration efforts in neighboring Burkina Faso.
Mink can buy the interest for payments totaling $450,000 over nine months plus 2,000 oz. of future gold production from the property. Mink is also considering a joint-venture offer on the property from an unspecified major mining company.
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