Redhawk Resources (OTCPK:RHWKF) has announced it has entered into a non-binding letter agreement with Howe Mining associates to jointly explore for new projects. According to the release, the joint venture will mainly be focused to find, acquire and develop advanced stage projects which could be brought into production within 12-18 months and would require a minimal up-front capital expenditure. The main focus will be on precious metals.
Redhawk seems to be woken up from hibernation, and just a short while after announcing a very important joint venture agreement with Anglo American to further develop the Copper Creek project, Redhawk seems to be re-inventing itself. This joint venture agreement with Howe Mining could prove to be valuable, but I remain very cautious, because small-scale mines aren't necessarily good mines as there usually is very little room for error. So I'm not really impressed with this announcement, but I hope the Redhawkers can do some nice things together with Howe Mining.
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