Resolute Mining says it will pay Mali $160 million in tax dispute
The company’s shares in Sydney were suspended on Thursday, after tumbling 40% since news of the detention of CEO Terry Holohan.
Thunder Mountain will have access to Newmont’s datapackage containing important geochemical, geophysical and drilling data in the project area. Upon successfully defining an economic mineral resource, Newmont will have the option of entering into a joint venture agreement with Thunder Mountain, or sell the land needed for development to THM while retaining a 3% net smelter return.
According to management, the company currently has US$0.3 million in cash; 1.25 million warrants have met their call back provisions – indicating the company can raise up to $0.25 million if all of these warrants are exercised. Management expects to pursue an equity financing shortly.
