Krakatoa Resources (ASX:KTA) has exercised its option to acquire the Belgravia Project.
It has completed legal and technical due diligence on its acquisition from Locksley Holdings.
Executive Chairman, Colin Locke says “we look forward to leveraging off KTA’s highly experienced porphyry team and undertaking aggressive exploration to bring serious value to shareholders”.
It managed to maintain a tight capital structure during the transaction with only 15 per cent of its register being turned over since the announcement of the acquisition.
Shares in Krakatoa Resources (ASX:KTA) closed 21.95 per cent higher at 5 cents yesterday.