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.