Deal Type: Asset Transaction
Deal Status: Completed
Deal Value: 44.5623 Million USD
Deal in Brief
Gascoyne Resources Limited, an Australia-based gold exploration and development company, has acquired the remaining 20% stake in Dalgaranga gold project located in Western Australia, Australia from a joint venture partner.
The Dalgaranga gold project contains a measured, indicated and inferred resource of 25.7 metric tonnes (Mt) @ 1.4 grams per tonne (g/t) gold for 1.12 million ounces of contained gold including Proved and Probable Ore Reserve of 552,000 ounces of gold.
Under the terms of the consideration, Gascoyne will pay AUD4.5 million (USD3.28 million) in cash, issue 11 million shares of its common stock and a deferred payment of AUD1.5 million (USD1.09 million) after 30,000 ounces of gold have been produced from the project.
Pursuant to the transaction, Gascoyne holds 100% stake in Dalgaranga gold project.
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