trending Market Intelligence /marketintelligence/en/news-insights/trending/CzSrETrz8DKJ3joOiroHBA2 content esgSubNav
In This List

Majestic Gold to acquire majority stake in Western Australian gold project

Video

According to Market Intelligence, December 2022

Blog

Global Clean Action Energy Forum

Video

Insight Monthly, October 2022

Blog

Insight Weekly: Stocks endure more pain; bank branch M&A slows; debt ratios fall


Majestic Gold to acquire majority stake in Western Australian gold project

Majestic Gold Corp. secured an option to acquire a 51% interest in up to eight gold-prospective tenements in Western Australia, collectively called the Fair Adelaide East project, from privately owned Plutus Resources Pty. Ltd.

To acquire a majority stake in the full eight tenements covering 1,322 hectares, the company will pay A$60,000 and spend A$2.0 million on exploration by Dec. 15, 2023.

The company can acquire a 51% interest in less than eight tenements by paying A$60,000, spending at least A$250,000 on each tenement and relinquishing the balance of the tenements back to Plutus.

Following the earn-in, the companies will negotiate a joint venture or a sale of a 44% interest in the tenements from Plutus to Majestic, according to a Dec. 18 news release.

Majestic unit Majestic China Holdings Corp. recently entered into three nonbinding memorandums of understanding to look into acquisitions or joint ventures on four gold projects in the Muping-Rushan gold belt in China's Shandong province.