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Segue takes remaining stake in Plumridge

10th July 2014

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – ASX-listed junior Segue Resources has taken full ownership of the four Plumridge nickel and gold exploration tenements, in Western Australia.

In April this year, the company announced that it had signed a definitive agreement with fellow-listed International Goldfields to acquire a 65% interest in the four tenements for A$100 000 in cash and the issue of 50-million Segue shares, or around 3.5% of the company’s issued capital.

The junior explorer on Thursday said that it had now acquired the remaining 35% interest in the tenement by paying Goldfields a further A$200 000 and granting the project owner a 1% net smelter royalty.

“The payment of A$200 000 to complete the acquisition of the four tenements from Goldfields demonstrates Segue’s commitment and confidence in the Plumridge project,” said Segue MD Steven Michael.

“Segue is the second largest ASX-listed tenement holder in the exciting Fraser Range province, with around 4 200 km2 of granted tenements and 740 km2 of exploration licence applications. Importantly, Segue owns a 100% interest in nearly all of its tenements,” Michael added.

Edited by Creamer Media Reporter

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