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Bligh cancels Bundarra JV sales plans, aims to accelerate development

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Bligh cancels Bundarra JV sales plans, aims to accelerate development

Bligh Resources Ltd. has terminated negotiations for the sale of its interest in the Bundarra gold project near Leonora, Western Australia, and will instead speed up project development.

The company will also look to expand its gold interests in the Leonora area, it said Sept. 29.

Bligh's joint venture partner, Contained Gold Pty. Ltd., has chosen to convert a A$250,000 note into Bligh shares.

The note will be convertible to 7,142,857 common shares of Bligh at 3.5 cents per share.

Contained Gold has also requested the transfer of its 50% of the Bundarra title from subsidiary SR Mining Pty. Ltd.