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Kingswest Resources (ASX: KWR) Considers JV with FMR Investment – ​​The Market Herald

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  • Kingswest Resources (KWR) may enter into a joint venture (JV) partnership with FMR Investments, with KWR owning 40% and FMR managing the rest.
  • Although the two companies have not officially participated in the venture partnership, KWR will continue to discuss profit sharing JVs with FMR.
  • KWR fully owns a mining lease that encapsulates both the Menzies and Goongary Gold projects.
  • According to the announcement, strikes, including MGP and GGP, have been primarily limited to modern exploration for the past two decades.
  • Kings West shares were down 4.55% at 21 cents per share

Kingswest Resources (KWR) may enter into a joint venture (JV) partnership with FMR Investments, with KWR owning 40% and FMR managing the rest.

Both companies entered a term sheet earlier last month, but to this day they had to perform due diligence.

Although the two companies have not officially participated in the venture partnership, KWR will continue to discuss the profit-sharing valve business with FMR, which may or may not lead to a partnership.

Ed Turner, CEO of King West, said:

Menzies and Goongary Gold Project

KWR fully owns a mining lease that encapsulates both Menzies and Goongary Gold projects.

The Menzies Gold Project (MGP) and Goongarrie Gold Project (GGP) are major historical fields of gold mining in Western Australia, located 130km and 90km north of Kalgoorlie, respectively.

According to the announcement, strikes, including MGP and GGP, have been primarily limited to modern exploration for the past two decades.

The GGP is located in the Baldock Tectonic Zone, which extends south to Kalgoorlie, north of the MGP.

Kings West shares were down 4.55 percent at 21 cents per share at 2:14 pm AEDT.



Kingswest Resources (ASX: KWR) Considers JV with FMR Investment – ​​The Market Herald

Source link Kingswest Resources (ASX: KWR) Considers JV with FMR Investment – ​​The Market Herald

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