Best known for its attempt to acquire a stake in the Busang project in Indonesia, Minorca Resources (mar-t) has since shifted its focus to Africa.
The Toronto-based junior recently signed an agreement to acquire a 50% interest in various gold properties in Ghana held by Tri-Star Gold (tsg-v).
In order to earn an initial 40% interest, Minorca must spend $3 million on exploration. The company can gain an additional 10% stake by spending a further US$2 million on exploration.
The work will be managed by a joint operating committee made up of two members from each company.
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