Endeavour Mining secures major gold exploration deal in Kazakhstan with East Star
East Star Resources Plc (LSE: EST) has inked a significant deal with Endeavour Mining PLC (LSE: EDV/TSX: EDV), securing a strategic star for gold exploration in Kazakhstan. The agreement allows Endeavour to earn up to an 80% interest in the new joint venture company (JVCO) through staged investments.
The earn-in process is divided into three stages. Initially, Endeavour must invest US$5 million over two years to acquire a 51% stake in JVCO. Subsequently, Endeavour is required to invest an additional US$20 million over three years, increasing its interest to 70%. The final stage involves Endeavour funding and completing a NI 43-101 compliant Pre-Feasibility Study, which would bring its total interest to 80%.
In return for its investment, Endeavour will receive milestone payments based on pre-agreed amounts per ounce for any Maiden Resource and any maiden PFS. East Star will retain a 20% interest in JVCO upon full earn-in by Endeavour and will act as the Manager of the Joint Venture during the initial phase, receiving remuneration for this role.
East Star will host a webcast and Q&A on Tuesday, 18 November 2025 at 10 a.m. GMT to discuss the strategic JV agreement with Endeavour Mining. This collaboration is expected to accelerate the exploration and development of gold projects in Kazakhstan, with both parties bringing valuable expertise and energy to the table.
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