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Sally Malay to farm-in on Wills Creek

SALLY Malay Exploration (SME), a wholly-owned subsidiary of Sally Malay Mining, has achieved a farm-in agreement with fellow local explorer Navigator Resources to earn a 70 per cent interest in Navigator’s Wills Creek nickel project, about 120 kilometres north of Halls Creek. Under the terms of the agreement, SME will spend $1.5 million to earn the interest over a three-year period. Once that interest has been earned, Navigator has the option to mine. Navigator said the agreement with SME allowed it to focus on building mineable gold resources at its Leonora project, while maintaining blue-sky exposure to the nickel sector via a strong relationship with Sally Malay Mining, which will operate the project. The Wills Creek project is approximately 15km south of the Sally Malay nickel mine.

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17/08/11
$159k Bought
17/08/11
$20k Bought
17/08/11
$79k Bought
Total value as at the date of the transaction
Source: Morningstar

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