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Gold/Mining/Energy : Mining News of Note

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To: LoneClone who wrote (182687)	11/5/2024 1:56:06 PM
From: LoneClone	Read Replies (1) of 192642

Spartan sells noncore gold projects to Benz Mining miningweekly.com 4th November 2024 By: Mariaan Webb Creamer Media Senior Deputy Editor Online Gold company Spartan Resources has reached an agreement to sell two noncore gold projects in Western Australia to fellow ASX-listed Benz Mining for A$15.6-million in cash and scrip. “The Glenburgh and Egerton projects have undoubtedly suffered from a lack of attention within the Spartan Group in recent years as a result of the incredible success we have enjoyed at Dalgaranga,” said Spartan interim executive chairperson Simon Lawson. He said Benz was a well-funded and -backed explorer that could provide a reinvigorated life to the assets. “With a combined mineral resource estimate of 537 000 oz at 1.0 g/t gold, Glenburgh and Egerton are exciting growth assets with demonstrated potential for high-grade underground ounces – which is expected to be the focus of Benz’s exploration campaign,” said Lawson. The consideration comprises A$1-million in cash and A$8.6-million of Benz CHESS depository instruments, as well as up to an additional A$6-million in contingent payments. The transaction will be completed in December

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