The date has been postponed to Friday, December 13, from December 6.
The terms of the sale and purchase agreement entered into between the parties are:
- The sum of $2,400,000 is to be paid on completion, with completion to take place on or before December 13, 2019, in lieu of December 6, 2019;
- The sum of $500,000 shall be paid to Ausmex 12 months from December 6, 2019; and
- $1,000,000 shall be paid to Ausmex on the production of 10,000 ounces of gold.
The Parties are working swiftly to a successful conclusion of the Transaction.
Mullaby drill targets
The company recently identified three-conductor targets for drilling at the Mullaby prospect within its Burra Copper-Gold Project in South Australia.
Using both recent and historical survey data, the magnetic anomalies can be interpreted as a potential porphyry intrusive mineralised system.
A 1,000-metre reverse circulation drilling program to test the three targets is scheduled for mid-December following completion of drilling at the nearby Princess Royal Prospect.