Ore Resources (ASX:OR3) agreed to acquire 29 prospecting licenses within the Mount Monger goldfields in Western Australia from Complete Prospecting for a consideration of AU$300,000 in cash and AU$500,000 in shares, subject to shareholder approval, according to a Thursday filing with the Australian bourse.
The transaction also involves a deferred consideration of AU$600,000 in milestone payments, the filing said.
The company will conduct a detailed geological evaluation of the tenement package to define targets for initial drilling expected to start in the first half of the year, per the filing.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments