West Kenya joint venture consent.

Under the terms of Special Licenses No. 123 and No. 213, the consent of the Commissioner is required for another party to take a Joint Venture interest in the Special Licenses. AfriOre has received written consent for Aviva to earn up to 75% in the Special Licenses. The Commissioner also confirmed the Special Licenses are free of encumbrances or reservations.

Under the terms of the JVA which was signed in July 2010, Aviva can earn up to 75% of the project which comprises two contiguous licenses over some 2,800km2 of the prospective Ndori Greenstone belt in West Kenya. Initially, Aviva will earn a 51% interest in the licenses by spending $US3 million over three years.

Aviva Chief Executive Officer, Mr Lindsay Reed, said the company was well on the way to meeting the initial earn in expenditure ahead of schedule in 2011.“Airborne geophysical surveys have already been completed and a 3000 metre drilling program is being planned for the December 2010 quarter” Mr Reed said.

Mr Reed acknowledged the assistance of the Mines and Geology Commission, AfriOre and its parent Lonmin Plc in completing the due diligence review leading to the execution and consent of the Earn-in and Joint Venture Agreement.

http://www.miningne.ws/pg/mining/news/35072/west-kenya-joint-venture-consent