Trigg Minerals Acquires New South Wales Project; Shares Hit Fresh 52-Week High

MT Newswires Live09-30

Trigg Minerals (ASX:TMG) agreed to acquire the Achilles project in New South Wales from Anchor Resources, according to a Monday filing with the Australian Securities Exchange.

Consideration for the transaction involves AU$250,000 worth of shares in the company and a further AU$200,000 worth of shares to be issued once land access from Ropaja, owner of the property that contains the Wild Cattle Creek JORC Resource, is obtained, the filing said.

Additionally, a 1% net smelter return royalty will be imposed on minerals extracted from the tenement area, governed by a royalty deed to be signed upon completion, according to the filing.

Trigg Minerals shares rose past 13% in midday trade Monday and earlier hit a new 52-week high.

Price (AUD): $0.03, Change: $+0.004, Percent Change: +13.33%

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