IN BRIEF: Greatland Gold soon to complete Tasmanian tenements sale
Greatland Gold PLC - London-based development and exploration company, specialising in one-tier gold and copper deposits in Australia - Says divestment of Firetower and Warrentina tenements in Tasmania will formally complete on or around this Friday. Company agreed to sell tenements to Flynn Gold Ltd for an initial consideration of AUD200,000, or around GBP106,344, via the issue of 2.0 million shares in Flynn Gold at AUD0.10 per share. Purchase also includes deferred consideration of AUD500,000 upon definition of at least 500,000 ounces of gold within one or both tenements; a further AUD500,000 upon issues of a mining permit for any part of the tenements; and a 1% net smelter royalty payable to Greatland from any production from the tenements. Read More