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Blaze International teams with Klaus Eckhof to pounce on gold asset

Acquisition of Kirkalocka Gold Project could be facilitated by agreement with Everest.
Picture of acquisitions sign
Share price surges as experienced Klaus Eckhof takes advisory position

Blaze International Limited’s (ASX:BLZ) shares have gained circa 30% in response to the company’s anticipated acquisition of Everest Minerals Pty Ltd.

Blaze International has entered into binding terms to acquire 100% of Everest which holds an option to acquire the Kirkalocka Gold Project located in Western Australia.

The option to acquire 100% of the project is exercisable by Everest through a cash payment of $100,000 at any time prior to April 30, 2018.

Subject to due diligence and shareholder approval, consideration for the acquisition of Everest will involve the issue 48,520,012 fully paid ordinary shares in Blaze International.

Experienced advisors assist in due diligence and ongoing strategic planning

As part of the transaction, Klaus Eckhof and Corporate & Resource Consultants Pty Ltd have been appointed as commercial and technical advisors.

Eckhof is a geologist with more than 20 years of experience identifying, exploring and developing mineral deposits on a global basis.

He has been particularly successful in developing gold projects both in Australia and overseas.

Eckhof takes project from standing start to US$500 million takeover

In 2003, Mr Eckhof founded Moto Goldmines which acquired the Moto Gold Project in the Democratic Republic of Congo.

Moto delineated more than 20 million ounces of gold and delivered a feasibility study within four years from the commencement of exploration.

The project was subsequently acquired for circa US$500 million by Randgold Resources (LON:RRS) who poured first gold in September 2013.

Given this background, investors are likely to be encouraged by the fact that Eckhof has been retained by Blaze International under an option remuneration package.

He will receive 25,000,000 options in the company exercisable at $0.08 with an expiry date of March 1, 2019.

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Blaze International Timeline

Newswire
January 02 2018

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