Blackstone-BHP Billiton-Northern Empire Otish deal

摘要

Blackstone Ventures Inc. has struck deals with the BHP Billiton group to acquire the Premier diamond property, located in the Otish Mountain region of Quebec, and with Northern Empire Minerals Ltd to allow the latter to acquire a 75 percent interest in the property. The 156 km~2 area is 85 km from the diamond property owned by Ashton Diamonds of Canada inc. and Soquem Quebec's exploration company, on which the diamondiferous Renard kimberlites are located.Blackstone was given access to BHP Billiton data concerning the region, leading the former to stake the Premier property. In return for access to the data, BHP Billiton can earn back into the property, once Blackstone has spent 1 million C dollar and drilled five diamond-drill holes. BHP Billiton would then be able to earn a 51 percent interest in Premier by spending 4 million C dollars on exploration over four years. In addition, BHP Billiton would be able to acquire a further 9 percent interest by spending another 6 million C dollars.