Emperor Energy Ltd (AU:EMP) has released an update.
Emperor Energy Ltd is set to form a 50/50 joint venture with an unnamed London-based company for the acquisition and exploration of the Great Caesar Mining Leases in North Queensland, Australia. The venture is contingent on the London firm raising AUD $500,000, with $400,000 earmarked for securing the mining leases. The exploration, scheduled to start in the latter half of 2024, aims to establish a JORC-compliant resource after two phases of drilling, with potential future revenue to be split equally between the two parties.
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