- Niuminco Group (NIU) has agreed to acquire a 90 per cent interest in three mining leases in Far North Queensland
- The leases cover an area of just over one square kilometre, within the Calcifer Mineral Field in Chillagoe
- In particular, the leases are approximately 25 kilometres south-east of the significant Red Dome and Mungana gold/base metal deposits
- In consideration for the acquisition, Niuminco will pay $60,000 on the agreement’s first anniversary of execution
- The company must also manage an exploration program with committed expenditure amounts per year
- Niuminco Group closed in the grey for 0.1 cent per share
