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Castle Minerals to sign tenement sale agreement

Published: 15:30 25 Sep 2015 AEST

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Castle Minerals (ASX:CDT) has been granted an ASX trading halt in relation to the signing of a tenement sale agreement.

The halt will last until the earlier of the announcement being made or the start of trade on Tuesday, 29th September 2015.

In May, the company executed a sale agreement to sell its Akoko Gold Project in southwest Ghana to Goldcrest Resources PLC for US$482,500 (A$687,760) in staged payments over the next 20 months.

Castle is also eligible to receive payments of US$500,000 in cash/equity if certain conditions are met.

The sale is conditional upon the transfer of the Akoko Prospecting Licence to Goldcrest and Goldcrest listing on the London AIM exchange within 12 months.

 

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