Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
By ProactiveInvestors (Reporter)
Contributor profile | More stories
Story Views
Now:
Last hour:
Last 24 hours:
Total:

Archer Materials makes further progress with sale of Eyre Peninsula tenements to Baudin Minerals

% of readers think this story is Fact. Add your two cents.


Archer Materials Ltd (ASX:AXE) (OTCMKTS:ARRXF) (FRA:38A) has received a Notice to Proceed to Completion regarding the sale of its mineral exploration licences on South Australia’s upper Eyre Peninsula from the buyer Baudin Minerals Pty Ltd.

This follows Baudin completing its due diligence enquiries and satisfies the Notice to Proceed condition.

Archer has lodged with the South Australian Government the appropriate forms for the grant of Ministerial consent for the sale.

The tenements are on South Australia’s upper Eyre Peninsula and host the Kelly Tank Kaolin Project, the Jamieson Tank Manganese Project as well as numerous copper-gold targets.

Background

The sale and purchase of the tenements are subject to satisfaction or waiver of the following three conditions precedent –

  • The buyer has satisfied itself as to its due diligence enquiries and issuing a Notice to Proceed and paying the amount of $100,000 to Archer;
  • The South Australian Government approval to the sale of the tenements; and
  • The buyer listing on a stock exchange.

Completion occurs on the earlier of the tenth business day after the cut-off date, and such other date agreed between the buyer and Archer.

Metallurgical test-work 

Archer is aware that the buyer has been undertaking detailed geological and metallurgical test-work on the Kelly Tank Kaolin Project with the aim of developing a high purity alumina (HPA) project.

The company previously announced an HPA exploration target at Kelly Tank and Bunora prospects that does not include additional HPA prospects outside of the exploration target area.

In addition to the HPA work, the buyer has advised that it intends to actively explore the tenements for copper and gold after it successfully lists on a stock exchange.

Baudin is planning to list on the ASX later this year.

Story by ProactiveInvestors



Source: http://www.proactiveinvestors.com/companies/news/943782/archer-materials-makes-further-progress-with-sale-of-eyre-peninsula-tenements-to-baudin-minerals-943782.html


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!


Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST


Order by Phone at 888-809-8385 or online at https://www.herbanomic.com M - F 9am to 5pm EST


Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen! 
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover -  Reduces Smart Meter radiation by 96%!  (See Video)

Immusist Beverage Concentrate - Proprietary blend, formulated to reduce inflammation while hydrating and oxygenating the cells.

Report abuse
Loading...

    Comments

    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    MOST RECENT
    Load more ...

    SignUp

    Login

    Newsletter

    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.