Strategic Alliance with Barrick
•The Alliance: Reunion and Barrick formed a 50-50 alliance to jointly explore for, develop and mine mineral projects in the Guiana Shield (Alliance Area).
•Operatorship: Reunion manages all Alliance projects during the exploration phase; Barrick to manage during the feasibility stage.
•Designated Projects: Exploration is funded on a 50:50 basis between Reunion Gold and Barrick. Once a project is ‘Designated’ by Barrick, Barrick will manage and solely fund the project through to feasibility. Following completion of a feasibility study, Barrick’s interest in the Designated Project will increase to 70% (Reunion 30%).
•Active participation and collaboration: Reunion and Barrick have a mutually beneficial and unique working relationship. Reunion has access to senior geologists, geophysicists and geochemists at Barrick, a level of expertise usually unavailable to junior gold companies.
“The Alliance will seek to identify and acquire properties that have the potential to yield discoveries consistent with Barrick’s definition of Tier 1 mines, leveraging Reunion’s capabilities and proven track record in the region, combined with Barrick’s experience at advancing and developing world-class assets.”
Mark Bristow, President CEO of Barrick
(Barrick news release Feb. 4, 2019)