Syndicated Metals Completes Purchase of Edjudina Gold Project

  • Nov 26, 2019 AEDT
  • Team Kalkine

Syndicated Metals Limited (ASX: SMD) has announced that the purchase of 80% interest in the Edjudina Gold Project from Gateway Metals Limited (ASX: GML) was complete. The project includes four exploration tenements in Laverton district, Western Australia.

  • SMD paid $50k in cash and $200k in SMD shares for the purchase.
  • The company has granted 1.5% royalty on future production over 200k oz of gold.
  • Exploration programs are expected to commence in March 2020 quarter.

By 1:21 PM AEST, SMD was trading at $0.006, no change from the previous close.

 

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