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FireFly Metals Ltd. — Capital/Financing Update 2017
Nov 2, 2017
48548_rns_2017-11-02_3a0a9d4f-16e6-40d1-917f-eb1e85fc5b6e.pdf
Capital/Financing Update
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Exploration Office Level 3, 100 Pirie Street ADELAIDE SA 5000
Tel: +61 8 8232 8320 Fax: +61 8 8232 8811
ABN: 96 110 336 733
www.monaxmining.com.au
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3 November 2017
ASX Announcement
Croydon Gold Project
Monax Mining Limited ( Monax or the Company ) (ASX:MOX) announces that, subject to statutory approvals, it has entered into an agreement to sell its Croydon project EPMs 26038 and 26203 to Wilson Minerals Pty Ltd.
The Company will receive an initial payment of $20,000 on completion of the sale and two further payments of $100,000 each on the application for and grant of a mining lease. Monax will also receive an NSR Royalty of 2% on any minerals produced, which Wilson Minerals can elect to buy back by paying Monax a further $250,000.
This sale is allows the Company to focus its efforts on its newly acquired Western Queen project, where drilling is expected to commence within the next two weeks.
For further information, please contact:
Ian Gordon Director Monax Mining Ltd P: 0477 306 669 E: [email protected]
Duncan Gordon Investor Relations Adelaide Equity Partners Ltd P: 0404 006 444 E: [email protected]