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Texas Wyoming Drilling, Blue Earth Resources to team up in mining JV.


18 August 2011 - US gold and minerals miner Texas Wyoming Drilling (OTCBB:TWDL) said Thursday it would set up a 50/50 mining A joint venture with Blue Earth Resources (OTCBB:CUYC), in a move to ensure working capital for the Yellow Jacket gold mining project.

Under the JV agreement, Blue Earth will get 50% ownership of some Yellow Jacket properties, with TWDL retaining an option on these assets, TWDL said in a press release.

The two partners will be sharing revenues and costs on the project, while Blue EarthA will provide upfront funds to TWDL to finance reports required by the Bureau of Land Management.

Blue Earth will also help raise the necessary working capital for the Blue Jacket gold mining project, TWDLa[euro](tm)s president and chief executive, Alfredo Navarro, said in a statement.

No financial details were disclosed.Blue Earth manages royalty assets and on-operating interests in domestic oil and gas producing properties.Country: USA, Sector: Metals/MiningType: JVStatus: Agreed

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Publication:M & A Navigator
Date:Aug 18, 2011
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