Clancy Exploration Ltd. reached an agreement to acquire the Hong Kong gold project in Western Australia's Pilbara region.
The company will issue 270 million common shares at 0.5 Australian cents apiece to Red Field Pty. Ltd. for a total value of about A$1.4 million, according to the Dec. 1 release.
The Hong Kong project consists of a single exploration license covering 40 square kilometers within the Yandeyarra aboriginal reserve, valid until July 19, 2022.
