https://www.engineeringnews.co.za

Spitfire takes hold of Mulwarrie

24th May 2018

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – ASX-listed Spitfire Materials will acquire the remaining 49% interest in the Mulwarrie gold project, in Western Australia, taking full ownership of the operation.

Spitfire will issue the vendors some 10-million fully paid ordinary shares, which will be voluntarily escrowed for 12 months, as well as A$100 000 in cash.

The shares will be issued under the company’s placement capacity.

“This acquisition is consistent with our corporate strategy, which is to build a sizeable and high-quality gold resource inventory in the North Kalgoorlie region, centered around our Aphrodite project,” said Spitfire MD John Young.

“Because of its outstanding grade and strategic location, we believe that Mulwarrie offers outstanding synergies with Aphrodite, and we are looking forward to undertaking further drilling programmes to establish a maiden Joint Ore Reserves Committee resource, which can be evaluated as part of our broader development studies at Aphrodite.”

The Mulwarrie project encompasses two contiguous tenements some 65 km from the Aphrodite project.

Edited by Creamer Media Reporter

Comments

Showroom

AutoX
AutoX

We are dedicated to business excellence and innovation.

VISIT SHOWROOM 
Hanna Instruments Image
Hanna Instruments (Pty) Ltd

We supply customers with practical affordable solutions for their testing needs. Our products include benchtop, portable, in-line process control...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024

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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.066 0.117s - 156pq - 2rq
Subscribe Now