East Star Resources (LSE:EST) and Endeavour Exploration announced they have entered into a binding earn-in and joint venture (JV) agreement to advance gold exploration in Kazakhstan. Endeavour Exploration, a subsidiary of top gold producer Endeavour Mining (LSE:EDV,TSX:EDV,OTCQX:EDVMF), will have the right to earn up to an 80 percent interest in a new JV company via staged investments. Stage 1 includes a US$5 million payment within two years, equivalent to a 51 percent interest. If an additional US$20 million is given over three years, its interest will increase to 70 percent. The last 10 percent will be given to Endeavour if it funds and completes a prefeasibility study. During the initial phase, East Star will act as manager of the JV. The area of interest for the partnership includes two proven, underexplored mineral belts. ‘This agreement with Endeavour is a transformational milestone for East Star that validates the quality of our…
