Newmont walks away from WA project

NEWMONT Mining has decided to not pursue a potential deal with AIM-listed Greatland Gold over its 100%-owned Ernest Giles project in Western Australia.

Newmont walks away from WA project Newmont walks away from WA project Newmont walks away from WA project Newmont walks away from WA project Newmont walks away from WA project

The two companies signed an agreement in May last year, which gave Newmont free reign to explore the project over six months and also have first refusal if Greatland decided to sell the project or form a joint venture.

Greatland said on Monday Newmont had informed it that its corporate priorities were focused on other districts and it would consequently not proceed with work on Ernest Giles.

"So, I think it was a case of them saying, ‘this is a really interesting project and these are really interesting results', but when they put together their priority list, we just missed out on the cutoff," G...