(Alliance News) - Wishbone Gold PLC on Friday said it has completed the acquisition of the Anketell gold-copper project in Western Australia, following on from the agreement announced on August 23.
Wishbone Gold is a Gibraltar-based, Australia-focused mining company, with three major exploration properties and three minor prospects. Two of these are located in the Pilbara region of Western Australia.
Wishbone will acquire the Anketell project through the issue of 2.2 million new ordinary shares at 14.75 pence each, equating to GBP320,192. It will also pay a cash consideration of GBP50,000, as previously set out in the acquisition terms.
Dealings are expected to begin on or around November 24.
Anketell is located 85 kilometres north of Wishbone's flagship project, Red Setter, in Patersons Range, Western Australia.
The Paterson province hosts several other gold-copper orebodies including the Winu, Telfer, Havieron and Nifty deposits. Wishbone said that while these deposits vary in detail, they are all likely to have a genetic link to intrusive fluids.
Wishbone shares were trading 11% higher at 7.30 pence each in London on Friday afternoon.
By Holly Beveridge; hollybeveridge@alliancenews.com
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