Pacific Bauxite Limited (ASX: PBX), an Australian mineral explorer, has executed a binding agreement pursuant to which it has been granted a 6-month option to acquire a 50% interest in the Ebagoola South Gold Project.
- There will be a 50-50 joint venture with the Aurum Pacific Group over the project;
- It will be an attractive opportunity to diversify into gold and expand Australian operations;
- The South Gold project consist of exploration permit for minerals (EPM) 26678 which covers a total area of 312.6 square kilometres in highly prospective gold region.
At AEST 12:41PM, the stock was trading at $0.005 per share, 25% up from its previous close.