THE BOURSE WHISPERER: Perth-based gold company Doray Minerals has reached an in-principle agreement with the Yugunga-Nya Native Title Claimant Group.
The company said the agreement paves the way for the granting of its Mining Lease application over the Andy Well gold project (Doray 80%) in the Murchison region of Western Australia.
The project-wide Agreement covers:
– The high-grade Wilber Lode gold deposit;
– The proposed location of processing and other mine site infrastructure within the application; and
– A significant area surrounding Andy Well, including the Side Well project (Doray 80%).
“Reaching this in-principle agreement with the Yugunga-Nya group is a significant milestone in the timely progression of the Andy Well gold project through development and into production,” Doray Minerals managing director Allan Kelly said in the company’s announcement to the Australian Securities Exchange.
“Today’s in-principle agreement includes provisions for potential community development activities as well as significant financial benefits for the claim group.
“We have been in productive discussions with the Yugunga-Nya over the last twelve months and have been very appreciative of their cooperation and desire to reach a mutually beneficial outcome, and we look forward to working with the group in the future.”
Following satisfaction of Native Title requirements, including execution of this Agreement, Doray said it will have met all prerequisites for granting of the above Mining Lease application.
Once the lease is granted, Doray expects it will then be able to submit applications for all required operating licences, as well as the Mining Proposal and associated Mine Closure Plan for approval by the Department of Mines and Petroleum.