{"id":115,"date":"2020-04-01T20:32:33","date_gmt":"2020-04-01T12:32:33","guid":{"rendered":"http:\/\/charltonsnaturalresources.com\/?page_id=115"},"modified":"2020-05-12T15:37:05","modified_gmt":"2020-05-12T07:37:05","slug":"acquisition-of-exploration-project-or-joint-venture-partnership","status":"publish","type":"page","link":"https:\/\/charltonsnaturalresources.com\/en\/mergers-and-acquisitions\/due-diligence\/acquisition-of-exploration-project-or-joint-venture-partnership\/","title":{"rendered":"Acquisition of Exploration Project or Joint Venture Partnership"},"content":{"rendered":"[et_pb_section fb_built=&#8221;1&#8243; custom_padding_last_edited=&#8221;on|desktop&#8221; admin_label=&#8221;ContentWrapper2&#8243; module_id=&#8221; &#8221; module_class=&#8221;content-wrapper2&#8243; _builder_version=&#8221;4.0.5&#8243; background_color=&#8221;#ffffff&#8221; custom_padding=&#8221;0px||0px|||&#8221; custom_padding_tablet=&#8221;50px|0|50px|0&#8243; custom_padding_phone=&#8221;&#8221; transparent_background=&#8221;off&#8221; padding_mobile=&#8221;off&#8221; make_fullwidth=&#8221;off&#8221; use_custom_width=&#8221;off&#8221; width_unit=&#8221;on&#8221;][et_pb_row column_structure=&#8221;2_3,1_3&#8243; use_custom_gutter=&#8221;on&#8221; gutter_width=&#8221;1&#8243; module_class=&#8221;main-content2&#8243; _builder_version=&#8221;4.4.3&#8243; width=&#8221;100%&#8221; max_width=&#8221;100%&#8221; z_index_tablet=&#8221;500&#8243; box_shadow_horizontal_tablet=&#8221;0px&#8221; box_shadow_vertical_tablet=&#8221;0px&#8221; box_shadow_blur_tablet=&#8221;40px&#8221; box_shadow_spread_tablet=&#8221;0px&#8221;][et_pb_column type=&#8221;2_3&#8243; _builder_version=&#8221;3.0.47&#8243; custom_padding=&#8221;|||&#8221; custom_padding__hover=&#8221;|||&#8221;][et_pb_text admin_label=&#8221;Breadcrumbs&#8221; module_class=&#8221;breadcrumb-wrapper&#8221; _builder_version=&#8221;3.27.4&#8243;]<div class=\"breadcrumb\">\r\n<ul><li><a href=\"\/\">Home<\/a><\/li><li><a href='https:\/\/charltonsnaturalresources.com\/en\/mergers-and-acquisitions\/' title='M &#038; A'>M &#038; A<\/a><\/li><li><a href='https:\/\/charltonsnaturalresources.com\/en\/mergers-and-acquisitions\/due-diligence\/' title='Due Diligence'>Due Diligence<\/a><\/li><li><span>Acquisition of Exploration Project or Joint Venture Partnership<\/span><\/li><\/ul>\r\n<\/div>\r\n[\/et_pb_text][et_pb_text admin_label=&#8221;Section Title&#8221; _builder_version=&#8221;4.4.3&#8243; global_module=&#8221;229966&#8243;]<h2 class=\"section-title\">M &#038; A<\/h2>\r\n[\/et_pb_text][et_pb_text admin_label=&#8221;ContentMenuBar1&#8243; _builder_version=&#8221;4.4.3&#8243;]<div class=\"content-menubar\">\r\n<div class=\"page-menu-panel\">\r\n<h3>M &#038; A<\/h3>\r\n<span class=\"hamburger\"><\/span>\r\n<\/div>\r\n<ul class=\"cm-parent\"><li class=\"page_item page-item-95\"><a href=\"https:\/\/charltonsnaturalresources.com\/en\/mergers-and-acquisitions\/private-international-acquisitions\/\">Private International Acquisitions<\/a><\/li>\n<li class=\"page_item page-item-96 page_item_has_children\"><a href=\"https:\/\/charltonsnaturalresources.com\/en\/mergers-and-acquisitions\/acquisitions-prc\/\">Acquisitions in the PRC<\/a>\n<ul class='children'>\n\t<li class=\"page_item page-item-107\"><a href=\"https:\/\/charltonsnaturalresources.com\/en\/mergers-and-acquisitions\/acquisitions-prc\/approval-processes\/\">Governmental Approval Processes for PRC Acquisitions<\/a><\/li>\n\t<li class=\"page_item page-item-108\"><a href=\"https:\/\/charltonsnaturalresources.com\/en\/mergers-and-acquisitions\/acquisitions-prc\/documentation-approval-timing\/\">Documentation, Approval Process and Timing<\/a><\/li>\n\t<li class=\"page_item page-item-109\"><a href=\"https:\/\/charltonsnaturalresources.com\/en\/mergers-and-acquisitions\/acquisitions-prc\/foreign-exchange-issues\/\">Foreign Exchange Issues<\/a><\/li>\n\t<li class=\"page_item page-item-110\"><a href=\"https:\/\/charltonsnaturalresources.com\/en\/mergers-and-acquisitions\/acquisitions-prc\/additional-information-for-listed-companies\/\">Additional Information for Listed Companies<\/a><\/li>\n<\/ul>\n<\/li>\n<li class=\"page_item page-item-97 page_item_has_children\"><a href=\"https:\/\/charltonsnaturalresources.com\/en\/mergers-and-acquisitions\/due-diligence\/\">Due Diligence<\/a>\n<ul class='children'>\n\t<li class=\"page_item page-item-115\"><a href=\"https:\/\/charltonsnaturalresources.com\/en\/mergers-and-acquisitions\/due-diligence\/acquisition-of-exploration-project-or-joint-venture-partnership\/\">Acquisition of Exploration Project or Joint Venture Partnership<\/a><\/li>\n\t<li class=\"page_item page-item-116\"><a href=\"https:\/\/charltonsnaturalresources.com\/en\/mergers-and-acquisitions\/due-diligence\/acquisition-of-producing-properties\/\">Acquisition of Producing Properties<\/a><\/li>\n<\/ul>\n<\/li>\n<li class=\"page_item page-item-98\"><a href=\"https:\/\/charltonsnaturalresources.com\/en\/mergers-and-acquisitions\/public-market-offers\/\">Public Market Offers &#8211; Hong Kong<\/a><\/li>\n<li class=\"page_item page-item-99 page_item_has_children\"><a href=\"https:\/\/charltonsnaturalresources.com\/en\/mergers-and-acquisitions\/reverse-takeovers\/\">Reverse Takeovers<\/a>\n<ul class='children'>\n\t<li class=\"page_item page-item-119\"><a href=\"https:\/\/charltonsnaturalresources.com\/en\/mergers-and-acquisitions\/reverse-takeovers\/rtos-under-the-hong-kong-stock-exchange-listing-rules\/\">RTOs under the HKEX Listing Rules<\/a><\/li>\n\t<li class=\"page_item page-item-120\"><a href=\"https:\/\/charltonsnaturalresources.com\/en\/mergers-and-acquisitions\/reverse-takeovers\/exchanges-discretion\/\">HKEX\u2019s Discretion<\/a><\/li>\n\t<li class=\"page_item page-item-121\"><a href=\"https:\/\/charltonsnaturalresources.com\/en\/mergers-and-acquisitions\/reverse-takeovers\/how-does-the-exchange-look-at-change-in-control\/\">How does the Exchange look at \u201cChange in Control\u201d?<\/a><\/li>\n<\/ul>\n<\/li>\n<li class=\"page_item page-item-100\"><a href=\"https:\/\/charltonsnaturalresources.com\/en\/mergers-and-acquisitions\/acquisitions-or-disposals-by-hong-kong-listed-companies\/\">Acquisitions or Disposals by Hong Kong Listed Companies<\/a><\/li>\n<\/ul>\r\n<\/div>[\/et_pb_text][et_pb_text admin_label=&#8221;Title&#8221; _builder_version=&#8221;4.4.3&#8243;]<h1 class=\"content-title\">Acquisition of Exploration Project or Joint Venture Partnership<\/h1>[\/et_pb_text][et_pb_text admin_label=&#8221;Content&#8221; _builder_version=&#8221;4.4.3&#8243; background_size=&#8221;initial&#8221; background_position=&#8221;top_left&#8221; background_repeat=&#8221;repeat&#8221; hover_enabled=&#8221;0&#8243;]<p>\r\n    The review of a single or multiple exploration project or the acquisition of a joint venture interest where the partner is no longer capable of meeting its joint venture requirements is usually considered a single discipline review\r\n    involving only a geological team (and not the mining, metallurgical and environmental teams). The key aspect of focus in this situation is the identification of exploration potential or &#8220;blue sky&#8221; of the property or properties being\r\n    acquired. The review may or may not involve a site visit by the due diligence team. A site visit is recommended if the acquisition is by a public company and will be deemed material by the regulators. It is important that the team\r\n    selected for the evaluation has significant expertise and exploration experience in the type of deposits being acquired. The team must be capable of quickly identifying both the positive and negative aspects of the property to be\r\n    acquired.\r\n<\/p>\r\n<p>\r\n    Prior to engaging a due diligence team, a company should have its legal counsel review any joint venture agreements to ensure that the property can be acquired and that the acquisition will not trigger any first right of refusal clause\r\n    or third party rights.\r\n<\/p>\r\n<p>Hong Kong listed mineral companies proposing to acquire or dispose of mineral assets must produce a Competent Persons Report which will add to the cost of the due diligence review.<\/p>\r\n[\/et_pb_text][et_pb_text admin_label=&#8221;SubM-sibling&#8221; _builder_version=&#8221;4.4.3&#8243;]<div class=\"page-submenu\"> \r\n<ul><li class=\"page_item page-item-115\"><a href=\"https:\/\/charltonsnaturalresources.com\/en\/mergers-and-acquisitions\/due-diligence\/acquisition-of-exploration-project-or-joint-venture-partnership\/\">Acquisition of Exploration Project or Joint Venture Partnership<\/a><\/li>\n<li class=\"page_item page-item-116\"><a href=\"https:\/\/charltonsnaturalresources.com\/en\/mergers-and-acquisitions\/due-diligence\/acquisition-of-producing-properties\/\">Acquisition of Producing Properties<\/a><\/li>\n<\/ul>\r\n<\/div> [\/et_pb_text][et_pb_text admin_label=&#8221;News Title&#8221; module_class=&#8221;content2-news-title&#8221; _builder_version=&#8221;4.4.3&#8243;]<h1 class=\"content-subtitle\">Read our latest News<\/h1>[\/et_pb_text][et_pb_blog fullwidth=&#8221;off&#8221; posts_number=&#8221;6&#8243; include_categories=&#8221;23&#8243; show_author=&#8221;off&#8221; show_categories=&#8221;off&#8221; show_excerpt=&#8221;off&#8221; show_pagination=&#8221;off&#8221; admin_label=&#8221;News Thumbs&#8221; module_class=&#8221;cu-blog&#8221; _builder_version=&#8221;4.4.2&#8243;][\/et_pb_blog][et_pb_text admin_label=&#8221;Click more news&#8221; _builder_version=&#8221;4.4.2&#8243;]<div class=\"bottom-click-more\"><a href=\"https:\/\/charltonsnaturalresources.com\/en\/news\/\">Click here to read more News<\/a><\/div>[\/et_pb_text][\/et_pb_column][et_pb_column type=&#8221;1_3&#8243; _builder_version=&#8221;3.25.3&#8243; custom_padding=&#8221;|||||false&#8221; custom_padding__hover=&#8221;|||&#8221;][et_pb_image src=&#8221;\/legal\/m-and-a\/due_diligence.jpg&#8221; admin_label=&#8221;Side Hero&#8221; module_class=&#8221;side-hero-wrapper&#8221; _builder_version=&#8221;4.4.3&#8243;][\/et_pb_image][\/et_pb_column][\/et_pb_row][\/et_pb_section]","protected":false},"excerpt":{"rendered":"<p><ul><li><a href=\"\/\">Home<\/a><\/li><li><a href='https:\/\/charltonsnaturalresources.com\/en\/mergers-and-acquisitions\/' title='M &#038; A'>M &#038; A<\/a><\/li><li><a href='https:\/\/charltonsnaturalresources.com\/en\/mergers-and-acquisitions\/due-diligence\/' title='Due Diligence'>Due Diligence<\/a><\/li><li><span>Acquisition of Exploration Project or Joint Venture Partnership<\/span><\/li><\/ul> M &#038; A M &#038; A <ul class=\"cm-parent\"><li class=\"page_item page-item-95\"><a href=\"https:\/\/charltonsnaturalresources.com\/en\/mergers-and-acquisitions\/private-international-acquisitions\/\">Private International Acquisitions<\/a><\/li>\n<li class=\"page_item page-item-96 page_item_has_children\"><a href=\"https:\/\/charltonsnaturalresources.com\/en\/mergers-and-acquisitions\/acquisitions-prc\/\">Acquisitions in the PRC<\/a>\n<ul class='children'>\n\t<li class=\"page_item page-item-107\"><a href=\"https:\/\/charltonsnaturalresources.com\/en\/mergers-and-acquisitions\/acquisitions-prc\/approval-processes\/\">Governmental Approval Processes for PRC Acquisitions<\/a><\/li>\n\t<li class=\"page_item page-item-108\"><a href=\"https:\/\/charltonsnaturalresources.com\/en\/mergers-and-acquisitions\/acquisitions-prc\/documentation-approval-timing\/\">Documentation, Approval Process and Timing<\/a><\/li>\n\t<li class=\"page_item page-item-109\"><a href=\"https:\/\/charltonsnaturalresources.com\/en\/mergers-and-acquisitions\/acquisitions-prc\/foreign-exchange-issues\/\">Foreign Exchange Issues<\/a><\/li>\n\t<li class=\"page_item page-item-110\"><a href=\"https:\/\/charltonsnaturalresources.com\/en\/mergers-and-acquisitions\/acquisitions-prc\/additional-information-for-listed-companies\/\">Additional Information for Listed Companies<\/a><\/li>\n<\/ul>\n<\/li>\n<li class=\"page_item page-item-97 page_item_has_children\"><a href=\"https:\/\/charltonsnaturalresources.com\/en\/mergers-and-acquisitions\/due-diligence\/\">Due Diligence<\/a>\n<ul class='children'>\n\t<li class=\"page_item page-item-115\"><a href=\"https:\/\/charltonsnaturalresources.com\/en\/mergers-and-acquisitions\/due-diligence\/acquisition-of-exploration-project-or-joint-venture-partnership\/\">Acquisition of Exploration Project or Joint Venture Partnership<\/a><\/li>\n\t<li class=\"page_item page-item-116\"><a href=\"https:\/\/charltonsnaturalresources.com\/en\/mergers-and-acquisitions\/due-diligence\/acquisition-of-producing-properties\/\">Acquisition of Producing Properties<\/a><\/li>\n<\/ul>\n<\/li>\n<li class=\"page_item page-item-98\"><a href=\"https:\/\/charltonsnaturalresources.com\/en\/mergers-and-acquisitions\/public-market-offers\/\">Public Market Offers &#8211; Hong Kong<\/a><\/li>\n<li class=\"page_item page-item-99 page_item_has_children\"><a href=\"https:\/\/charltonsnaturalresources.com\/en\/mergers-and-acquisitions\/reverse-takeovers\/\">Reverse Takeovers<\/a>\n<ul class='children'>\n\t<li class=\"page_item page-item-119\"><a href=\"https:\/\/charltonsnaturalresources.com\/en\/mergers-and-acquisitions\/reverse-takeovers\/rtos-under-the-hong-kong-stock-exchange-listing-rules\/\">RTOs under the HKEX Listing Rules<\/a><\/li>\n\t<li class=\"page_item page-item-120\"><a href=\"https:\/\/charltonsnaturalresources.com\/en\/mergers-and-acquisitions\/reverse-takeovers\/exchanges-discretion\/\">HKEX\u2019s Discretion<\/a><\/li>\n\t<li class=\"page_item page-item-121\"><a href=\"https:\/\/charltonsnaturalresources.com\/en\/mergers-and-acquisitions\/reverse-takeovers\/how-does-the-exchange-look-at-change-in-control\/\">How does the Exchange look at \u201cChange in Control\u201d?<\/a><\/li>\n<\/ul>\n<\/li>\n<li class=\"page_item page-item-100\"><a href=\"https:\/\/charltonsnaturalresources.com\/en\/mergers-and-acquisitions\/acquisitions-or-disposals-by-hong-kong-listed-companies\/\">Acquisitions or Disposals by Hong Kong Listed Companies<\/a><\/li>\n<\/ul> Acquisition of Exploration Project or Joint Venture Partnership The review of a single or multiple exploration project or the acquisition of a joint venture interest where the partner is no longer capable of meeting its joint venture requirements is usually considered a single discipline review involving only a geological team (and not the mining, metallurgical and environmental teams). [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":97,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"<!-- wp:paragraph -->\r\n<p>The review of a single or multiple exploration project or the acquisition of a joint venture interest where the partner is no longer capable of meeting its joint venture requirements is usually considered a single discipline review involving only a geological team (and not the mining, metallurgical and environmental teams). The key aspect of focus in this situation is the identification of exploration potential or \"blue sky\" of the property or properties being acquired. The review may or may not involve a site visit by the due diligence team. A site visit is recommended if the acquisition is by a public company and will be deemed material by the regulators. It is important that the team selected for the evaluation has significant expertise and exploration experience in the type of deposits being acquired. The team must be capable of quickly identifying both the positive and negative aspects of the property to be acquired.<\/p>\r\n<!-- \/wp:paragraph -->\r\n\r\n<!-- wp:paragraph -->\r\n<p>Prior to engaging a due diligence team, a company should have its legal counsel review any joint venture agreements to ensure that the property can be acquired and that the acquisition will not trigger any first right of refusal clause or third party rights.<\/p>\r\n<!-- \/wp:paragraph -->\r\n\r\n<!-- wp:paragraph -->\r\n<p>Hong Kong listed mineral companies proposing to acquire or dispose of mineral assets must produce a Competent Persons Report which will add to the cost of the due diligence review.<\/p>\r\n<!-- \/wp:paragraph -->","_et_gb_content_width":"","inline_featured_image":false,"footnotes":""},"categories":[27],"class_list":["post-115","page","type-page","status-publish","hentry","category-ma","cat-27-id"],"_links":{"self":[{"href":"https:\/\/charltonsnaturalresources.com\/en\/wp-json\/wp\/v2\/pages\/115","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/charltonsnaturalresources.com\/en\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/charltonsnaturalresources.com\/en\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/charltonsnaturalresources.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/charltonsnaturalresources.com\/en\/wp-json\/wp\/v2\/comments?post=115"}],"version-history":[{"count":8,"href":"https:\/\/charltonsnaturalresources.com\/en\/wp-json\/wp\/v2\/pages\/115\/revisions"}],"predecessor-version":[{"id":231061,"href":"https:\/\/charltonsnaturalresources.com\/en\/wp-json\/wp\/v2\/pages\/115\/revisions\/231061"}],"up":[{"embeddable":true,"href":"https:\/\/charltonsnaturalresources.com\/en\/wp-json\/wp\/v2\/pages\/97"}],"wp:attachment":[{"href":"https:\/\/charltonsnaturalresources.com\/en\/wp-json\/wp\/v2\/media?parent=115"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/charltonsnaturalresources.com\/en\/wp-json\/wp\/v2\/categories?post=115"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}