Northern Star Resources
A$72m Joint Venture with Tanami Gold
In February 2015, Northern Star Resources announced a transaction with Tanami Gold NL to progressively acquire up to a 100% interest in the Central Tanami Project (CTP), including an initial 25% for A$20million, the right to earn a further 35% by sole funding all expenditure and costs required to bring the project back into production, and two put options to acquire the remaining 40% for a combined A$52 million. Upon completion, Northern Star Resources and Tanami formed an unincorporated joint venture (JV) and Northern Star Resources became the JV manager.
The Transaction was approved by Tanami shareholders in April 2015 and the first 25% was acquired by Northern Star Resources in July 2015.
Azure was appointed corporate adviser to the transaction.