https://www.miningweekly.com
Cummins|Exploration|PROJECT|Resources|Bearing
Cummins|Exploration|PROJECT|Resources|Bearing
cummins|exploration|project|resources|bearing

Cummins Range sale completed

27th September 2019

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Following shareholder approval, junior Sagon Resources has moved to take full ownership of the Cummins Range rare earths project, in Western Australia.

The company in July this year struck an agreement with fellow listed Element 25 to acquire the Cummins Range project for A$500 000 in cash and the issue of A$500 000 worth of shares.

Sagon on Friday told shareholders that the company had completed a A$1.17-million capital raise, through the issue of 68.8-million new shares, to complete the acquisition of the Cummins Range project, and to fund a maiden exploration programme.

Cummins Range is 130-km southwest of Halls Creek and is one of two known rare earth bearing carbonatites in Australia, with the other being the Mt Weld project owned by ASX-listed Lynas.

Sagon is planning a comprehensive review of the historical resource in addition to the Stage 1 drill programme, which will start in the coming months, subject to permitting.

Edited by Creamer Media Reporter

Comments

Showroom

Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 
Rio-Carb
Rio-Carb

Our Easy Access Chute concept was developed to reduce the risks related to liner maintenance. Currently, replacing wear liners require that...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 03 May 2024
Magazine round up | 03 May 2024
3rd May 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.153 0.193s - 108pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: