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Greatland Gold : Shares Up After Pact with Newmont on Ernest Giles Project

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05/16/2017 | 09:57am CEST

By Razak Musah Baba

LONDON--Greatland Gold PLC (GGP.LN) shares rose in early trade Tuesday after the company said it has agreed to allow Newmont Exploration Pty Ltd., access to its Ernest Giles project in central Western Australia for a period of six months.

The precious and base metals exploration and development company said it has entered into an agreement with Newmont by granting Newmont access to the Ernest Giles project tenements and exploration database.

The company has also granted Newmont the right of first refusal should Greatland wish to sell or joint venture the Ernest Giles project during that six month period.

Greatland Gold shares at 0740 GMT traded up 0.05 pence or 16% at 0.37 pence, valuing the company at GBP6.6 million.

-Write to Razak Musah Baba at razak.baba@wsj.com; Twitter: @Raztweet

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