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GOLD explorer and miner Wilton Resources Corporation Limited said it has entered into a non-binding framework agreement with Chinese minerals and mining group, Yunnan Chihong Resources Exploration & Development Company Limited, a subsidiary of Yunnan Metallurgical Group Co Ltd. This is in respect of the potential investment and/or cooperation between the company and Yunnan Chihong in the development of the group's Ciemas Gold Project in West Java, Indonesia.
The agreement outlines areas of the potential investment and/or cooperation including the development and construction of a mining, processing and smelting facility, the exploration of Wilton's mining permit area, and an equity investment by Yunnan Chihong, the Catalist-listed group said on Friday.