PERTH (miningweekly.com) – ASX-listed Agrimin has acquired the Lake Auld potash project, in Western Australia, in exchange for shares.
The company told shareholders that it would issue project owner Zinfadel Exploration with 250 000 fully paid ordinary shares as part of the consideration to acquire the exploration licences, with the share issue subject to a number of conditions, including Ministerial consent.
The Lake Auld potash project consists of a granted exploration licence covering some 108 km2 across Lake Auld, and is neighboured on either side by Agrimin’s existing exploration licence applications, which cover the broader Canning Palaeovalley system.