AuStar Gold Limited (ASX:AUL) (‘AuStar Gold’ or ‘the Company’) provides the following update in relation to the Rose of Denmark (‘RoD’) gold mine and nearby tenement holdings:
Highlights
- AuStar Gold has acquired the remaining 51% interest in Mining Licence MIN5299; which hosts the Rose of Denmark gold mine, from Shandong Tianye Real Estate Development Group Co Ltd (‘Shandong’)
- The transaction includes other nearby gold projects located on MIN 5299, including Hunts and Dempsey
- The purchase price comprises $225,000 in AUL shares subject to 12 months escrow and 45 million unlisted AUL options
- With RoD now under full control and ownership of AuStar Gold, prioritising and/or co-development of RoD is currently being considered by the Board and Management.
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