Cassini Resources Limited (ASX: CZI) is a base and precious metals explorer and developer. Cassini’s flagship asset is its West Musgrave Project (WMP) in Western Australia which is considered to be Australia’s largest undeveloped copper nickel deposit.
We acted for Cassini on its farm-in and joint venture agreement with OZ Minerals Limited under which OZ Minerals (through its subsidiary, OZ Exploration Pty Ltd) has the right to earn up to a 70% interest in the WMP by sold funding a minimum of $36 million on exploration and development on the project. Cassini will be free carried through to completion of the DFS and the decision to mine, and the arrangement further provides for minimum expenditure of $8 million by OZ on regional exploration.
The joint venture will enable the WMP to progress to mining by leveraging OZ Minerals’ significant funding and development capability.