Tanami Gold (ASX:TAM) elected not to exercise its pre-emptive right related to Northern Star Resources' (ASX:NST) sale of its 50% interest in the Central Tanami project joint venture to Gibson Gold and Mt Gibson Iron (ASX:MGX), according to a Tuesday filing with the Australian bourse.
The JV was formed to develop and mine the Groundrush gold deposit, along with any other gold deposits defined within the project tenements in the Northern Territory, the filing said.
Northern Star Resources shares fell more than 1% in midday trade Tuesday, while Mount Gibson Iron shares were down nearly 3%.
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