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MUMBWA JV PROJECT - BHP Billiton advises of inetntion to withdraw from JV - | |
23 May 2011
Blackthorn Resources announce that JV partner BHP Billiton has advised of its intention to withdraw from direct involvement in the Mumbwa JV Project in Zambia.
BHP Billiton will assign its 40% interest in the JV to Blackthorn Resources, who will then hold a 100% interest. BHP Billiton will remain entitled to receive a 2% production value royalty from any future mining conducted on the Mumbwa JV area.
The date for termination of the JV and some detailed arrangements applying to BHP Billiton�s withdrawal have yet to be finalised.
To view today's announcement please click here.
Kind Regards, Blackthorn Resources Ltd
www.blackthornresources.com.au
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info@blackthornresources.com.au | www.blackthornresources.com.au
Ph: +61 2 9357 9000 | Fax: +61 2 9332 1336
Level 5, Suite 502, 80 William Street, Sydney 2011 NSW Australia
ABN: 63 009 193 980
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Blackthorn Resources Limited
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DEVELOPMENT STAGE |
CODE : AIM.AX |
ISIN : AU000000AIM1 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Blackthorn Res is a zinc and nickel development stage company based in . Blackthorn Res develops zinc, nickel and silver in Burkina Faso, and holds various exploration projects in South Africa. Its main asset in development is PERKOA in Burkina Faso and its main exploration properties are MUMBWA in Zambia and MOKOPANE in South Africa. Blackthorn Res is listed in Australia. Its market capitalisation is AU$ 390.1 millions as of today (US$ 253.4 millions, € 236.7 millions). Its stock quote reached its highest recent level on January 04, 2008 at AU$ 1.60, and its lowest recent point on December 01, 2008 at AU$ 0.01. Blackthorn Res has 1 068 849 953 shares outstanding. |