Company Overview and News
The 3 companies in this article are worth less than their liquidation value, with assets ranging from cash to shares to JV and exploration properties.
Chalice Gold Mines Ltd (ASX:CHN, TSE:CXN) has entered into an agreement to farm-in to all minerals other than iron ore within Red Hill Iron Ltd’s (ASX:RHI) West Pilbara Gold Project. Chalice may spend $1 million within two years to earn a 51% interest, at which point Red Hill has a one-off opportunity to contribute to its 49% pro rata interest. If Red Hill elects not to contribute, Chalice may then spend another $2 million to earn a further 19% within no set time period, or withdraw and retain no interest.