joint venture News | The Market Online The Market Online – First with the news that moves markets. Breaking Australian stock market news, ASX 200 announcements and the latest ASX news today. Fri, 30 May 2025 02:55:40 +0000 en-US hourly 1 https://wordpress.org/?v=6.1.1 Emmerson JV partner kicks off gold production at Tennant Creek https://themarketonline.com.au/emmerson-jv-partner-kicks-off-gold-production-at-tennant-creek-2025-05-30/ Fri, 30 May 2025 02:55:32 +0000 https://themarketonline.com.au/?p=756107 Emmerson Resources Ltd (ASX:ERM) has announced the commencement of gold production at joint venture partner Tennant Mining’s 840,000 tonne per annum CIL gold processing facility in the Northern Territory.

Production from the facility – which is located 14 kilometres southeast of Tennants Creek – is currently built around deposits owned by Tennant Mining, which is itself a subsidiary of Pan African Resources (AIM: PAF).

As yet, it has not been determined when future processing from deposits falling under the JV will occur, with this likely to impact royalty payments.

However, Emmerson stressed that if Tennant failed to produce 60,000 ounces from the JV tenures by mid-May 2026, it would be required to make Minimum Production Payments, which would equal the 6% gross production royalty on any production shortfall (i.e. 60,000 ounces less gold produced from the JV tenements).

The minimum production shortfall is expected to be between 57,500 and 60,000 ounces (depending on actual production levels achieved by mid-March and mid-May 2026), and this will result in payment of approximately $18 million, payable to ERM in staged payments between April and August 2026.

Emmerson managing director Mike Dunbur offered his congratulations to the Tennant Mining and Pan African Resources teams for reaching commercial gold production at the facility.

“To achieve commercial gold production just four and a half years after signing the exploration Joint Venture with Emmerson and securing a number of other leases in their own name in the Tennant Creek district is a fantastic achievement,” he said.

“We look forward to working with the expanded team as development of the JV ownedgold deposits is undertaken in the coming years and look forward to receipt of the 6% uncapped gross gold production royalty from the Small Mines JV deposits.”

Emmerson shares rose after the news, and at 12:25 AEST, they were trading at 13.2 cents – a rise of 1.92% since the market opened.

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Staked claims stretch Pine Ridge’s uranium footprint to 15,000 ha https://themarketonline.com.au/staked-claims-stretch-pine-ridges-uranium-footprint-to-15000-ha-2025-04-29/ Tue, 29 Apr 2025 03:13:26 +0000 https://themarketonline.com.au/?p=751726 Global Uranium and Enrichment Ltd (ASX:GUE) has reported the significant expansion of its Pine Ridge project in Wyoming, through the staking of claims achieved under the company’s joint venture with NASDAQ-listed Snow Lake Resources.

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Pine Ridge – which is an in-situ recovery (ISR) uranium project located in Wyoming’s Powder River Basin – has now grown by around 85%, with 937 claims successfully staked across a territory of approximately 7,045 hectares (ha), or 17,408 acres.

These additional claims are comprised of previously unclaimed Federal mineral parcels, and bring the total area of the project to 15,130 ha (37,387 acres).

Managing director Andrew Ferrier said the expansion provided GUE with a strategic opportunity to make use of the region’s strong geological profile.

“Historical exploration, together with our own modelling of redox fronts, confirms the significant exploration upside,” he said.

“This additional staking is a critical step in unlocking the full value of Pine Ridge and accelerating our broader growth ambitions within the Powder River Basin.

“We’re also pleased to advance this next phase of work in partnership with Snow Lake Energy, whose commitment reflects the strength of our growing portfolio and shared confidence in the Project’s potential.”

GUE shares have moved up since this news, and at 13:01 AEST, they were trading at 5.9 cents – a rise of 3.51% since the market opened.

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Global Uranium to immediately crack on with drilling at new JV in Wyoming https://themarketonline.com.au/global-uranium-to-immediately-crack-on-with-drilling-at-new-jv-in-wyoming-2025-03-12/ Wed, 12 Mar 2025 00:01:27 +0000 https://themarketonline.com.au/?p=745234 Global Uranium and Enrichment Ltd (ASX:GUE) has completed a joint venture agreement in collaboration with Snow Lake Resources for the acquisition of the Pine Ridge project, which is located in prime mining territory in Wyoming, and is at an advanced stage of development as an in-situ recovery uranium project.

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Drilling will be an immediate focus for the JV, building on the more than 1,200 holes completed to date at Pine Ridge, which has been found to have over 140 miles of redox fronts.

The goal will be delineation of a significant ISR resource base, keeping in mind the project is located in strong territory – in Wyoming’s Powder River Basin, and surrounded by globally significant projects owned by UEC and Cameco.

In the latter case, Cameco’s Smith Ranch uranium mill is only 15 kilometres from the project, and has a capacity of 5.5 million pounds triuranium octoxide per annum.

The acquisition was made from Stakeholder Energy and involved both Global Uranium and Snow Lake Resources, trading as Snow Lake Energy – the latter a U.S.-based uranium and nuclear energy company listed on the NASDAQ.

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The JV’s management is hoping to leverage its significant experience working with uranium, particularly in this region, with Snow Lake CEO Frank Wheatley joining the Global board as a non-executive director.

GUE has been trading at 7.1 cents.

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The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.

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Scorpion jumps 80% after JV sees it gain major foothold in WA gold territory https://themarketonline.com.au/scorpion-jumps-80-after-jv-sees-it-gain-major-foothold-in-wa-gold-territory-2025-02-14/ Fri, 14 Feb 2025 04:06:22 +0000 https://themarketonline.com.au/?p=739994 Scorpion Minerals (ASX:SCN) has seen its share price lift by an extraordinary 80% after it entered a binding farm-in and joint venture heads of agreement with E79 Exploration Pty Ltd, which will see it take a majority interest in the latter’s Jungar Flats gold project in Western Australia.

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Scorpion has the potential to earn up to 70% interest in the project – located in Western Australia’s Murchison region – by spending $3 million over five years, including a cash consideration of $100,000 and a series of milestone expenses.

Of central consideration is the fact Jungar Flats abuts Scorpion’s Pharos Project to the east – expanding the company’s Murchison footprint by 1600 square kilometres – in addition to ensuring it has a dominant position in the northern extent of the highly prospective Big Bell–Dalgaranga shear corridor.

The latter corridor has seen very little exploration, although companies like Spartan Resources (ASX: SPR) and Caprice Resources (ASX: CRS) have had success in this territory.

Alongside the JV announcement, Scorpion also said it was aiming to raise $1.5 million through the issue of 75M fully-paid ordinary shares. It has already received binding commitments from sophisticated and professional investors in that regard.

The shares would be priced at two cents each – a 33% premium to the last traded price of the company’s securities of 1.5cps.

“We are delighted to have executed this strategic agreement with E79, which now makes Scorpion the largest landholder along the highly prospective Big Bell–Dalgaranga shear corridor in the Murchison – one of the prime gold exploration jurisdictions in Australia,” CEO Michael Fotios said.

“With the Murchison region gaining recent attention due to exciting gold discoveries made by neighbouring companies such as Spartan Resources and Caprice Resources, our plans to accelerate exploration across our high grade target areas has been very well received by existing shareholders and new investors.

“We have received commitments to raise $1.5M which will fund the near-term drilling campaigns at Pharos and cover consideration payable to E79 for the HOA.”

Scorpion last traded at 2.7 cents – a rise of 80% since market open.

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The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.

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URW starts JV in ‘one of the strongest and best-performing’ shopping centres in Prague with quarter-stake sale https://themarketonline.com.au/urw-starts-jv-in-one-of-the-strongest-and-best-performing-shopping-centres-in-prague-with-quarter-stake-sale-2025-01-10/ Thu, 09 Jan 2025 23:15:42 +0000 https://themarketonline.com.au/?p=733622 Retail developer Unibail-Rodamco-Westfield (ASX:URW) – which operates 71 shopping centres in Europe and the United States under the Westfield brand – has sold a 25% stake in Centrum Černý Most in Prague.

The €553 million transaction comes during a busy period of upgrades at the 85,000 square metre centre – described as ‘one of the strongest and best-performing destinations in Prague’ – where an extension of 9,000 square metres is to be added in 2026, including new retail, dining and leisure facilities.

As a result of the transaction, the involved parties will commence a long-term joint venture, with Upvest and RSJ Investments able to acquire a further 24% stake in the next two years (based on the appraisal value at that time).

The transaction will be completed with an implied offer price of €553M, and the asset – which will continue to be managed by URW – has been financed with a green mortgage loan of up to €268 million; the largest syndicated commercial real estate loan in the Czech market since 2023.

The loan will be partly used to finance the ongoing extension.

URW has been trading at $6.20.

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‘Meaningful step towards our target’: Cleanaway JV opens door to monetising landfill gas https://themarketonline.com.au/cleanaway-jv-opens-door-to-monetising-landfill-gas-2024-12-20/ Thu, 19 Dec 2024 23:03:32 +0000 https://themarketonline.com.au/?p=731542 Cleanaway Waste Management Ltd (ASX:CWY) has launched a joint venture with LMS Energy Pty Ltd – a bioenergy and methane abatement company – which will facilitate the processing and commercialisation of landfill gas (LFG) at Cleanaway’s Lucas Heights landfill in New South Wales.

The JV will see LMS invest $46 million in the building of new bio-electricity assets, including a 22MW generation facility. This will replace the existing electricity generation infrastructure owned and operated by a third party.

Cleanaway’s contribution revolves around exclusive rights to the landfill gas at Lucas Heights for 20 years; both parties have an equal ownership share.

CEO and managing director Mark Schubert said the partnership was an important aspect of Cleanaway’s overall business plans.

“Optimising our landfill gas opportunity is a key focus area of our Blueprint 2030 strategy and is part of our Operational Excellence program of work,” he said.

“Today’s announcement is particularly rewarding, as it represents a meaningful step towards achieving our target of more than $50 million of EBIT in FY26 from the Operational Excellence program.”

The financial parameters for the project are expected to include incremental EBIT of approximately $5 million in FY25 and approximately $10 million in FY26, through the sale of landfill gas.

Beyond FY26, post full commissioning of the assets, assuming operating, andregulatory conditions, the partnership is expected to deliver incremental EBIT of approximately $15M per annum.

Cleanaway shares rose after the news, and at 12:57 AEDT, they were trading at $2.69 – an increase of 0.55% since the market opened.

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Alchemy receives JV sign-off from FIRB to progress Roe Hills lithium target https://themarketonline.com.au/alchemy-receives-jv-sign-off-from-firb-to-progress-roe-hills-lithium-target-2024-12-02/ Sun, 01 Dec 2024 23:02:48 +0000 https://themarketonline.com.au/?p=728180 Alchemy Resources Ltd (ASX:ALY) has gained approval from a Federal Government body for its farm in and joint venture agreement with Japan Organization for Metals and Energy Security (also known as JOGMEC) relating to lithium exploration near Kalgoorlie.

The government’s Foreign Investment Review Board (FIRB) has signed off on the lithium-focused JV, which will include parts of the Roe Hills target areas covering 248 square kilometres of Alchemy’s Karonie Lithium and Gold Project (itself covering 694 square kilometres).

This territory is believed highly prospective for lithium of a style similar to Global Lithium Resources Ltd’s (ASX:GL1) Manna deposit, which is found in the adjacent tenure.

According to the JV, JOGMEC will be able to earn a 51% interest by spending $6,000,000 by 31 March 2029 with a minimum expenditure commitment of $600,000 by 31 March 2025.

Upon approval of work programs by the JV partners, soil sampling and geophysics are set to be rolled out at the site.

Alchemy CEO James Wilson said he was pleased with the government’s endorsement of this arrangement.

“This is a fantastic outcome for Alchemy, and we thank JOGMEC and the Australian Foreign Investment Review Board for such a speedy turnaround, being less than two months since the application was submitted,” he said.

“The approval now paves the way for Alchemy to progress work on the Roe Hills Project, fully funded and supported by JOGMEC’s investment.”

Alchemy has been trading flat at 0.7 cents.

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Aurumin considering joint venture with Brightstar over WA’s Central Sandstone play https://themarketonline.com.au/aurumin-considering-joint-venture-with-brightstar-over-was-central-sandstone-play-2024-10-29/ Tue, 29 Oct 2024 02:04:19 +0000 https://themarketonline.com.au/?p=721668 Aurumin Ltd (ASX:AUN) has confirmed receipt of a non-binding and indicative offer (NBIO) from Brightstar Resources Ltd (ASX:BTR) which could facilitate a joint venture connected to the Central Sandstone Project in Western Australia’s East Murchison Mineral Field.

The project – which forms one part of Aurumin’s larger Sandstone Project – is located approximately 520 kilometres northeast of Perth and includes a non-operating 500,000 tonne per annum CIL processing plant, all associated infrastructure, operating licenses, permitted tailings storage facility and bore field, and camp facilities located on freehold title within the nearby town of Sandstone.

The territory connected to the Sandstone Project is promising, having produced more than one million ounces of gold from surface, open pit, and underground operations since the 1890s. More recent production involved Herald Resources Ltd in the 1990s and Troy Resources Ltd from 1999 to 2010.

With the latter, around 4.4 million tonnes of open pit ore was extracted and processed at an average grade of 3.6 grams per tonne, for 508,000 ounces produced until Troy’s operation was placed on care and maintenance in 2010.

Following a few years of exploration under new operator Middle Island Resources (from 2016), Sandstone was acquired by Aurumin in December 2021.

Aurumin told investors a transaction regarding the project or a potential joint venture for Central Sandstone was not locked-in at this stage, but that the board of directors had begun a process to consider the NBIO, alongside its advisors.

In response to the news, Aurumin shares went up more than 5%. At 12:52 AEDT, they were trading at 5.5 cents – a rise of 5.77% since open. Brightstar shares were 2.3 cents – a rise of 2.22%.

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AMP partnership to ‘transform’ the advice industry https://themarketonline.com.au/amp-partnership-to-transform-the-advice-industry-2024-08-08/ Wed, 07 Aug 2024 23:16:41 +0000 https://themarketonline.com.au/?p=709164 Financial services giant AMP Ltd (ASX:AMP) has announced a strategic partnership with Entireti Ltd (previously known as Fortnum Private Health) and AZ Next Generation Advisory Ltd to help in the development of a sustainable business model for its AMP Advice Business.

According to the partnership, Entireti will acquire AMP’s advice licensees – Charter, Hillross and AMP Financial Planning – as well as self-licensed offer Jigsaw for $10.2 million, with these being grouped under a newly created joint venture entity, NewCo, in which AMP will hold a 30% stake.

Crucially, this development will push Entireti Services to the top position as Australia’s largest financial advice business service provider, with over 1,300 advisers.

Meanwhile, AZ Next Generation Advisory will take on AMP’s minority stakes in 16 advice practices for $82.2 million.

The new arrangement follows a bumpy few years for AMP in terms of legal issues.

In May 2023, the Federal Court ordered two AMP companies – AMP Life and AMP Financial Planning – to pay a combined penalty of $24 million after they breached the law by charging life insurance premiums and advice fees from the superannuation accounts of more than 2,000 deceased customers.

And a year before – in September 2022 – five companies that are or were part of the AMP Limited group were ordered by the Federal Court to pay $14.5 million in penalties for charging fees for services that were not provided to 1,452 superannuation members.

AMP CEO Alexis George said the new arrangement underscored AMP’s desire to invest in the future of the advice business, with this partnership set to transform the advice industry landscape in Australia – creating the largest advice business services provider, combined with flexible capital support.

“AMP has been dedicated to creating a new model for our advice business to providecertainty for AMP advisers and our people,” she said.

“Over the past three years we’ve made significant progress in transforming AMP Advice intoa sustainable, standalone advice business: we introduced a new service model, opened the approved product list, reduced operating costs and improved services to advisers which has significantly lifted adviser satisfaction.

“At the same time, we’ve considerably strengthened the North platform proposition to be compelling for both AMP advisers and Independent Financial Advisers.

“It was important in choosing these two partners that they had a strong track record, deepexperience and shared AMP’s commitment to delivering quality advice to more Australians: advisers will benefit from the combined scale of these businesses, delivering new servicesand technology, with capital backing.”

AMP has been trading at $62.28

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Opyl forms JV with UK and US consortium to bring products to the world https://themarketonline.com.au/opyl-forms-jv-with-uk-and-us-consortium-to-bring-products-to-the-world-2024-07-24/ Wed, 24 Jul 2024 01:15:50 +0000 https://themarketonline.com.au/?p=706105 Artificial intelligence company Opyl Ltd (ASX:OPL) is set to form a joint venture with Xco consortium in the United States and United Kingdom to facilitate the marketing, distribution and sale of its products and the services of its product TrialKey, across Europe, the Middle East, Africa and North America.

The company – which specialises in utilising AI technologies to elevate clinical trial design and forecast outcomes – has entered into a memorandum of understanding (MOU) with Xco consortium for the formation of the JV in which Opyl will hold a 20% stake.

The MOU agreement will be followed by three months of due diligence during which the exact terms and conditions of the JV will be consolidated. Once this is completed, Opyl will receive US$1 million in cash for license rights and R&D.

A key priority for the new entity will be capital raising, with the goal of US$3 million-US$5 million to be raised within nine months of the JV’s establishment.

In-line with the structure of the new entity, Opyl – holding a 20% stake – will appoint one director, while its UK partner will appoint 4 directors, based on its 80% investment.

In terms of revenue takings, 80% of the initial US$1.25 million will go towards the JV entity, with 20% going to Opyl directly, and all revenues exceeding this are to be divided with60% going to the JV entity and 40% to Opyl.

One million US dollars is the revenue target for the first year – set by the JV entity – with this to double the following year and rise to US$4 million in the third.

Opyl’s TrialKey platform – a key focus of the JV -provides analysis of free-text entries made by medical practitioners during clinical trials, in particular involving the extraction of information such as dosages, administration methods, mechanisms of action, and inclusion or exclusion criteria.

Executive Chairman of Opyl Saurabh Jain said the JV was an important step in bringing the company’s technology to the world.

“This joint venture marks a significant milestone for Opyl as we expand our global footprint,” he said.

“Partnering with a knowledgeable and capable entity like Xco consortium validates our technology and opens new avenues for growth and revenue generation.

“We are excited about the potential this collaboration brings to our shareholders and the broader market.”

Opyl has been trading at 2.7 cents.

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