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Highlights
- Australian Mines may earn up to 80% of Boa Vista through staged cash, equity, and exploration
- Initial terms include CAD55,000 cash and shares valued at AUD1 million
- GoldMining retains 20% interest if full option is exercised
GoldMining Inc. (TSX: GOLD | NYSE American: GLDG) has signed a binding term sheet allowing Australian Mines Limited (ASX: AUZ) to earn up to an 80 percent interest in the Boa Vista Project in Pará State, Brazil. The total consideration across the staged agreement includes up to CAD7 million in cash and equity.
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