In 2015, the Company announced its first strategic investment in Gold Standard Ventures Corp. (TSX: GSV), an advanced stage exploration company currently drilling in Nevada, United States.
GSV currently owns the second largest land package in the Carlin trend, one of the most prolific gold belts globally and is currently drilling at its Railroad project located just south of Newmont’s Emigrant operation. GSV will continue to test oxide and sulphide mineralisation as it seeks to expand on its current resource.
The terms of the agreement between OceanaGold and GSV include the following provisions:
- the right to request the formation of a Technical Committee of GSV consisting of at least four members with the appointment of one representative by the OceanaGold;
- anti-dilution rights allowing it to maintain its equity ownership interest in GSV;
- the right to participate in any future equity financings of GSV to acquire up to 19.9% of the then issued and outstanding common shares of GSV;
- a right of first refusal to match any third party offers regarding a tolling arrangement or a non-equity financing for the purpose of funding the future exploration and development of any assets of GSV.
For more information, please visit the GSV website.