- Inflection has entered into a multi-year Earn-in Agreement with AngloGold across a group of Inflection’s copper-gold projects in New South Wales.
- AUD$108M in cumulative earn-in expenditures allows AngloGold to individually earn a 65% interest in four projects
- To earn 75% in each project AngloGold is required to deliver a Pre-Feasibility Study (PFS)(to include minimum 2M oz Au or Au-Cu Measured & Indicated Resources) and cede a 2% or 1% NSR royalty to Inflection
- Inflection is operating the project for a 10% management fee.
ANGLOGOLD ASHANTI PARTNERSHIP DETAILS
Phase I: AngloGold Ashanti has completed Phase I of the Exploration Earn-in Agreement and has elected to designate four projects to advance to Phase II. The four Designated Projects are Duck Creek, Trangie, Crooked Creek and Nyngan (Figure 1). Duck Creek was previously announced as a Phase II project on May 2, 2024;
Under Phase II, AngloGold Ashanti may earn a 51% interest in each of the four Designated Projects by funding exploration expenditures of AUD$7,000,000 on each Designated Project over three years;
Under Phase III, AngloGold Ashanti may earn a 65% interest in each Designated Project by sole funding exploration expenditures of an additional AUD$20,000,000 on each Designated Project over two years;
Under Phase IV, AngloGold Ashanti may earn an additional 10% interest in each Designated Project by:
- Completing a Pre-Feasibility Study solely funded by AngloGold Ashanti within an additional three-year period; and,
- Granting to Inflection, subject to existing underlying royalties, a 2% or 1% net smelter return (“NSR”) royalty;