Winds of change for Hurricane gold tenements
New Energy Minerals plans to kick off an exploration campaign as soon as possible after taking on the Hurricane gold and antimony project in Far North Queensland.
The company has a conditional agreement to acquire project owner Placer Gold, subject to shareholder approval.
It is also about to launch a capital raising of $5 million through an entitlement issue to the company’s existing shareholders.
“Following the review of numerous mineral project opportunities over the past 18 months, the directors were delighted to secure favourable terms with the vendors of the Hurricane project in Queensland," non-executive chairman Ian Daymond. . .
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