Binding Heads of Term Reached With US Group to Joint Venture Disko-Nuussuaq Project, Greenland
80 Mile (AMRQ) entered a Binding Head of Terms with USFM Corporation for US$30 million to earn 51% of the Disko-Nuussuaq project in West Greenland.Key terms: 80 Mile to act as operator, a £500,000 signing cash payment, a 12.5% management fee on project spend, and US$10 million directed to drilling within 10 months. 80 Mile will be free-carried on its 49% until earn-in completion, then may contribute or dilute. Definitive agreements, Greenland government approvals, and shareholder consents are required; exclusivity runs until 1 May 2026.
