Company Overview and News
Gold miner Northern Star Resources has invested $23.2 million in Echo Resources to take a 16.4 per cent stake in the exploration company. (4-0)
Local gold explorers Echo Resources and Kairos Minerals have raised a combined $22 million from investors to fund ongoing work at their respective projects in Western Australia.
Echo Resources Ltd (ASX:EAR) continues to advance its interests in the world-class Yandal Gold Belt in Western Australia.
Echo Resources’ (ASX:EAR) shares closed circa 5% higher on Thursday after receiving high-grade gold results from drilling at its Zaphod gold discovery in Western Australia.
Gold explorer Echo Resources has tapped investors for $5 million to fund ongoing development of its Yandal project near Wiluna.
Echo Resources Ltd (ASX:EAR) has intersected further significant gold zones from the Orelia gold deposit in the Yandal greenstone belt of Western Australia.
Echo Resources (ASX:EAR) is continuing to receive significant gold intersections from drilling at the Empire District in the Yandal gold belt of Western Australia.
Intermin Resources (ASX:IRC) has signed a binding agreement to acquire the Anthill gold project located 54 kilometres northwest of Kalgoorlie-Boulder in Western Australia.
Echo will now send compulsory acquisition notices to acquire all remaining Metaliko shares not accepted in the takeover bid in accordance with the Corporations Act.
Granting of the mining lease follows the completion of various requirements including the signing of the Land Access Native Title Agreement and State Deed with an aboriginal corporation.
Investors have reacted well to news that gold-focused companies Echo Resources and Metaliko Resources will merge in a deal worth $38.9 million.
Echo Resources and Metaliko Resources are expected to announce a tie-up this week, after the two ASX-listed companies with assets in the eastern Goldfields region announced trading halts today.
Echo Resources Ltd (ASX:EAR) has been granted a trading halt by the ASX this morning, pending details of a material transaction. The halt will remain in place until the opening of trade on Friday 30th September 2016, or earlier if an announcement is made to the market.
Echo Resources Ltd (ASX:EAR) has received standout recoveries ranging from 96.7% to 99.8% gold from a metallurgical test work program at the Julius Project in Western Australia. These results reinforce the recently completed scoping study for Julius which projected positive cash flow of $47 million over 2 years. The Julius project is situated in the Yandal greenstone belt of the Eastern Goldfields, one of Australia’s most bountiful gold regions.
Echo Resources Ltd (ASX:EAR) is exploring for gold, copper and nickel deposits in Western Australia and Queensland.
2017-12-11 - Wilton
2017-12-11 - Wilton
2017-12-03 - Wilton
2017-11-27 - Wilton