Proactive Investors - Run By Investors For Investors

Mount Magnet South to bag $1.7M from Kirkalocka sale

Mount Magnet South to bag $1.7M from Kirkalocka sale

Mount Magnet South (ASX:MUM) has now entered into a conditional binding offer to sell the Kirkalocka Gold Project to Ozchina Enterprises Pty Ltd.

The project is located in the Mt Magnet region of Western Australia.

Mount Magnet said that it has agreed with Ozchina to extend the requirement to satisfy the conditions precedent to 21 May 2015, and now anticipates despatching notice of meeting for shareholder approval in four weeks.

Consideration includes a cash payment of A$1,700,000exGST.

Mount Magnet is now on the look-out for potential acquisitions that are drill-ready exploration projects through to advanced projects with existing resources and upside potential.

The company said all deal structures will be contemplated, from joint venture farm-in through to direct project equity or corporate acquisition.

Currently several opportunities are under review.

 

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 IHL profile View Profile

Impression Healthcare Timeline

Related Articles

G Medical's Prizma device
January 22 2019
The mobile and e-health company is set for first production from its facility in Guangzhou, China.
The "St. Noire" video game
Sun
The company embraces digital interactive entertainment as well as augmented reality, virtual reality and artificial intelligence
Fertoz ore stockpile at Butte, Montana
November 27 2018
The company’s lead rock phosphate projects are Wapiti and Fernie in British Columbia.

© Proactive Investors 2019

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