12 April 2017
Richard Poulden, chief executive of Wishbone Gold PLC (LON:WSBN) runs Proactive’s Andrew Scott through their announcement of a joint venture to tap into gold mining in Honduras.
Subsidiary Wishbone Gold Honduras Ltd has inked the 30 – year deal with SION Honduras, which has an agreement with the Honduran government to expand the mining industry there.
”This is a huge opportunity which the market hasn’t really grasped at this point”, Poulden says.
”The idea isn’t for us to go into mining here … it is simply to secure supply of gold at good margins”.
The venture will provide equipment and expertise to small mines in Honduras to enable them to increase production.
In return, the mines will supply Wishbone’s trading subsidiary Black Sand FZE with all the output at preferential prices.