Empire Metals Ltd (LON:EEE) has received ministerial consent for the transfer of title, being the final condition of closing on the acquisition of a 75% interest in the Eclipse gold project, located 55 kilometrs north-east of Kalgoorlie, Western Australia.
“We are pleased to have now completed the acquisition of a 75% interest in Eclipse,” said Empire director Mike Struthers.
“The results to date have been very encouraging and we believe this acquisition will create shareholder value as we continue to assess the potential economic mineralisation and a profitable open pit operation.”
The consideration consists of A$1mln in cash and shares.
In addition, a finder’s fee has been paid to an unrelated party of A$500,000 in shares.