Sign up Australia
Proactive Investors - Run By Investors For Investors

Golden Rim Resources Ltd pushes out closing date for acquisition in Chile

Golden Rim Resources Ltd pushes out closing date for acquisition in Chile

Golden Rim Resources Ltd (ASX:GMR) has extended the closing date for the acquisition of an advanced silver-lead-zinc-copper project in Chile.

The acquisition, which was flagged in May of a subsidiary of London listed Herencia Resources plc would see Golden Rim hold mineral concessions at the Paguanta silver-lead-zinc-copper project in northern Chile.

The Patricia Prospect hosts mineral resources of 4.4 million tonnes at 3.7% zinc, 1.4% lead, 84 g/t silver and 0.2 g/t gold at 2% zinc cut-off.

More than 40,000 metres of drilling, predominantly diamond drilling, has been conducted at Paguanta.

The majority of a Feasibility Study for Paguanta has been completed.

Past expenditure on the project is a heady US$31.5 metres (A$43m2), proving an opportunity for Golden Rim given the acquisition price.

The proposed acquisition price is US$1.5 million cash plus shares upon a decision to mine.

The closing has been extended to 13 June 2016.



Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

View full GMR profile View Profile

Golden Rim Resources Timeline

Newswire
February 05 2015

Related Articles

1513945199_Humm2.jpg
December 22 2017
The plan in 2018 is to deliver not one doré bar, but a 130,000 ounces of the yellow metal
1527068084_shutterstock_102742847.jpg
May 23 2018
Chaarat's bold bid for the Kumtor mine is the first of many potential deals
Tomingley gold open pit operation
March 27 2018
The Dubbo Project hosts zirconium, hafnium, niobium, tantalum, yttrium and rare earth elements.

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use