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GOLDARC RESOURCES LIMITED — Capital/Financing Update 2019
May 7, 2019
64961_rns_2019-05-07_9e6f02b0-f0cf-4f52-b2bd-e508f3923d6b.pdf
Capital/Financing Update
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ASX / MEDIA ANNOUNCEMENT
8 May 2019
ABN: 72 002 261 565
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TORIAN REACHES AGREEMENT TO DIVEST BARDOC PROJECT AS STRATEGIC PROJECT REVIEW ADVANCES
Torian Resources Ltd (ASX: TNR ) ( Torian or the Company ) is pleased to advise that it has reached agreement with Bardoc Gold Limited (ASX: BDC, Bardoc ) for the divestment of the Bardoc Project, located north of Kalgoorlie. The Bardoc Project is considered to be a non-core project for Torian, with most of the surrounding ground held by Bardoc Gold.
The divestment, for cash consideration of $150,000, is the first to be undertaken by Torian in line with its strategy to rationalise its extensive 530km[2] Western Australian gold exploration portfolio to allow it to focus on core projects in the Kalgoorlie district.
As foreshadowed in recent ASX releases, Torian has been progressing a technical review of its assets using both geological and geophysical data and, together with the results of the independent review undertaken by BM Geological Services, is now refining its planned exploration strategy over the next 12 months.
The Company is continuing discussions with various parties in relation to its remaining non-core assets and is evaluating options for continued exploration on projects which are best suited to be advanced via external funding or partnerships.
ENDS
For further information:
Investors: Torian Resources Mark Borman Managing Director
Media: Read Corporate Nicholas Read [email protected]
104 Colin Street E : [email protected] Directors West Perth WA 6005 W : www. torianresources.com.au Richard Mehan, Chairman Mark Borman, Managing Director T : +61 8 9420 8208 PO Box 1763 Paul Summers, Director F : +61 8 9322 4130 West Perth WA 6872 Matthew Foy, Company Secretary