Xanadu Mines Ltd

(MENAFN- Baystreet) 10:10 AM EST - Xanadu Mines Ltd : Provided an update on The Kharmagtai Project and associated discussions about the next steps for the development of the Kharmagtai copper-gold Project with our JV partner, Zijin Mining Group (Zijin). Highlights: Xanadu delivered a prefeasibility study (PFS) for the Kharmagtai Project late in the September Quarter of 2024, outlining a 29-year, large scale, low cost, open pit copper-gold operation. Under the joint venture agreement (JVA), delivery of the PFS KPIs triggered two key events namely, transition of JV Operatorship to Zijin, and the vesting of two six-month options, granted for Xanadu's benefit by the original Zijin investment agreement. Xanadu Mines Ltd shares T are trading unchanged at $0.05.

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