EAGLE Eye Metals has announced its acquisition of an unlisted gold company and sponsoring a new gold float on the ASX.
Under the deal, Eagle Eye will sponsor unlisted public company, Aphrodite Gold onto the ASX.
Aphrodite Gold will acquire an advanced gold project (Aphrodite) north of Kalgoorlie in Western Australia from Apex Minerals.
The company has paid Apex a deposit of $500,000 and final funds will be paid in November 2009 from the seed capital issue and option issue for Aphrodite Gold, currently underway.
The underground Aphrodite gold deposit has a resource of 287,000 ounces of gold, in the inferred category.
The company plans to prove up the open pit ore to JORC compliant standard and mine it before mining of the already established higher grade JORC compliant underground mining resource.
Source: Proactive Investors
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