Vango options Lodestar leases

CASH-strapped explorer Lodestar Minerals, which had just A$36,000 in cash at the end of March, has found salvation in the form of an optional farm-in agreement for its flagship Ned’s Creek project, which is adjacent to Vango Mining’s Marymia project.

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Vango wants to expand its Marymia holdings.

Vango has a four-month option to trigger a 51% farm-in by spending $5 million over three years, with a minimum spend of $1 million per annum.

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