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Greatland to acquire Western Australia gold project for A$725,000

Greatland Gold Plc said Sept. 26 that it is acquiring Pacific Trends Resources Pty. Ltd.'s Havieron gold project in Western Australia.

Historical exploration at Havieron, which covers 135 square kilometers, demonstrated peak values of 15.45 g/t of gold and 2.5% copper.

Under the deal, Greatland will make an initial payment of A$25,000 cash and 65,490,000 ordinary shares at 0.1 pence each, for a total value of A$225,000. Upon a decision to mine, a second payment of 145,530,000 shares at an approximate value of A$500,000 will be made.