Malachite pulls out of Lorena to end JV dispute
Malachite Resources is shedding its stake in the Lorena gold project in North West Queensland after a long-running dispute with joint venture partners.
The exploration company's subsidiary Volga Elderberry holds the mining licence for Lorena, a producing gold mine, as well as related exploration prospects.
That is to be sold to joint venture partners Lorena Gold Mine Pty Ltd and Ore Processing Services (OPS) as part of the deal to resolve the dispute over the operation.
Malachite said it had already received an initial payment of $50,000 and was due to receive a further $130,000 within. . .
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