Traka warns its stake in Guinea project at risk
ASX-listed Traka Resources has received a notice from its project partner Alamako Resources, purporting to terminate the partnership agreement entered into on April 18 relating to the exploration and development of certain mineral tenements in Guinea.
Traka says it does not accept that Alamako has any legal or contractual basis to terminate the agreement and is currently reviewing its rights and options in light of the correspondence received.
It adds that it has made a financial contribution of $200 000 under the terms of the agreement and has at all times acted in good faith.
Traka says it will continue to assess the situation.
As reported by Mining Weekly on April 22, Traka had signed an exclusive agreement with Guinea-based Alamako Corporation International to earn a 75% interest in the Didi gold project, which is highly prospective for gold.
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