Please note: you are viewing an old version of this deal. The current version can be found here: Deal #1359

Deal #1359 Version #52874

Guinea

Created at

2013-02-15

Last update

2020-08-04

Last full update

2024-04-25

Land area

Intended size

98 400 ha

Size under contract (leased or purchased area)

[current] 8015.0 ha

Comment on land area

Land & Resources and MAG entered into an Option Agreement (the “Option Agreement”) pursuant to which Land & Resources was granted an option to assume a lease of approximately 98,400 hectares (243,151 acres) located in the village of Saraya in Guinea (the “Option Land”). #1358 is the pilot area for this project (8815ha).

Intention of investment

[current] Food crops (8015.0 ha)

Nature of the deal

Lease

Negotiation status

[current] Concluded (Contract signed)

Comment on negotiation status

99 year lease signed with an Option Agreement (the “Option Agreement”) pursuant to which Land & Resources was granted an option to assume a lease of approximately 98,400 hectares (243,151 acres) located in the village of Saraya in Guinea (the “Option Land”) on 16:09:2010.

Implementation status

Comment on implementation status

During the three months ended June 30, 2011, the Company completed the exploration and mapping of Saraya property comprising 98,400 hectares of Option Land.