Pharmanet's transformation starts
PERTH (miningweekly.com) – ASX-listed Pharmanet Group has started its evolution into Calidus Resources with the acquisition of unlisted Keras Gold Australia, in exchange for 225-million shares and 525-million performance shares.
Keras Australia holds the Warrawoona gold project, in the Pilbara goldfields, which has a 410 000 oz inferred mineral resource, grading 2.2 g/t gold.
Pharmanet on Wednesday said the acquisition transformed the company into a new Australian gold developer with significant potential to unlock further resources and new discoveries within the emerging gold belt.
The two companies will now work together to secure the relevant approvals and to issue a prospectus to undertake a capital raising as a condition precedent to the transaction.
Pharmanet was hoping to conduct an interim capital raise to raise up to A$620 000 through a share placement, with the company also intending to raise up to A$7-million by way of a share offer, and a possible A$875 000 by way of an option offer.
Subject to the receipt of the relevant approvals and the completion of the transaction, Pharmanet will relist on the ASX by the second quarter of this year.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation