An agreement between South American Goldfields (TSE) and Denison Mines (TSE) will see the former boost its interest in the Aurora gold property in Guyana up to 80%.
South American, which will also acquire outright Denison’s full joint venture interest in the Five Stars and Quartz Hill gold properties in the same South American nation, currently has a 40% stake in Aurora. It can double its interest by spending $5 million in four stages during the next five years.
Denison’s remaining 20% interest may be further diluted should South American enter into a new joint venture with a major mining company.
The agreement is subject to approval by the Guyanese government and the acceptance of modifications to the schedule of work requirements by a Guyanese commission.
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