GTI Resources Concludes Reach PL Acquisition | ASX Market Update

Australian-based company engaged in the exploration and evaluation of mineral and energy resources, GTI Resources Limited (ASX:GTR) has completed the acquisition of granted Prospecting Licence P40/1492 (Reach PL). The acquisition is pursuant to the Carmichael Acquisition from Carmichael Prospecting Company Pty Ltd, that was announced in August 2020. Besides, GTI Resources issued 1.7 million shares in consideration for the Reach PL. GTI shares traded at $ 0.025 mid-day on 11 September 2020.

The Federal government declares a $50 million package to assist in the revival of the $36 billion business events sector of Australia which came to a halt amid COVID-19. Businesses will be persuaded to take part in events, trade shows and conferences in Australia through grants to help in covering the exhibiting costs. Australian businesses showing up at authorized business events, meetings, conference, and incentives event in 2021 can apply for upfront grants that shall cover up to half of their costs ($10,000 - $250,000) under the program. The scheme is a part of the $1 billion COVID-19 Relief and Recovery Fund by the Morrison- government.

Rio Tinto has surrendered to the pressures of a shareholder rebellion over its judgment to destroy ancient Indigenous heritage sites in Western Australia. In an announcement to the Australian Securities Exchange on Friday, Rio Tinto chief executive Jean-Sebastien Jacques said he would leave “by mutual agreement” but remain in the top job until a successor was found or March 31, whichever was earlier. Rio Tinto demolished two caves at Juukan Gorge in Western Australia’s Pilbara region to unearth an estimated $135 million worth of iron ore as it expanded its Brockman 4 mine in May.

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