Post by
Goldendream on Feb 12, 2021 12:29pm
Red 5 Joint Venture with CIO
CIO have in a Past News release stated that they " Were in a Dispute" with Red 5 over the JV mining agreements that CIO had made with Barrick and were SUPPOSED to have been honoured by Red 5 when they took over the properties from Barrick. I have tried to contact both companies for ANY INFORMATION about this matter. I have never recieved any information back. When I go the Red 5 Website I can find NO MENTION of any JV with CIO in the Darlot Gold district. CIO has not posted any updates on this matter. I can only assume that RED 5 are not going to honour any of the agreements CIO and Barrick had come to on JV projects. There for it is likely that CIO is now only in the IRON ORE business with its other properties. ALL COMMENTS WELCOME. GLTA!
Comment by
cool888 on Mar 07, 2021 11:47am
As per RED5, The mine is operated through Red 5’s 100%-owned subsidiary company, Darlot Mining Company Pty Ltd. Am not sure if BK & CIO are in any JV ! https://www.red5limited.com/site/operations/darlot-gold-mine