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Dampier Gold says Vango Mining in breach of K2 gold mine joint venture

Dampier Gold Ltd. on Aug. 10 said Vango Mining Ltd. is in breach of its joint venture over the K2 gold mine, part of the Plutonic Dome project in Western Australia.

Chairman Malcolm Carson said the project's joint venture committee failed to approve expenditure to enable the company to increase its interest in the project.

The two companies announced the joint venture in May 2017, allowing Dampier to earn up to a pro rata equity interest of up to 50%. Dampier currently holds 4.1% in the tenements.