Birimian Ltd. said May 25 that it expects its deal with Société des Mines de Morila SA to close within a week, after the government of Mali approved the extension of Mines de Morila's mineral exploitation permit to the Viper and N'tiola areas of interest.
Viper and N'tiola form part of Birimian's early stage Massigui gold property. Massigui nearly surrounds the Morila gold mine, which is a joint venture between Randgold Resources Ltd., AngloGold Ashanti Ltd. and the Republic of Mali.
In November 2016, Birimian granted Mines de Morila an option to acquire the area of interest for A$1 million and a sliding gold royalty based on gold prices.
Birimian said it also recently agreed to acquire a 5% mineral property right at Viper held by Société Hanne General Trading SARL for US$200,000, with the deal expected to close after the Morila deal. Hanne General will retain a 5% mineral property right on the N'tiola exploration permit, along with a 1% net smelter royalty on Viper.
