Meeka Metals To Acquire Western Australia Gold Mining Tenements
Meeka Metals (ASX:MEK) entered into a binding agreement with MH Gold and Montague Resources Australia to acquire mining information and various gold mining tenements surrounding Mt Holland in Western Australia with a combined area of 71 square kilometers, according to a Friday Australian bourse filing.The consideration for the acquisition includes AU$10 million on completion, a deferred consideration of AU$10 million on the three-month anniversary following completion, and 117.8 million fully paid ordinary shares in Meeka, representing 3.8% of the firm's post-issue capital.The verification of historical drilling at the tenements is underway to facilitate the conversion of non-2012 JORC Mineral Resources to the 2012 JORC standard.The agreement excludes the right to explore for and mine lithium, which is subject to a lithium rights agreement.