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E79 Gold Mines Limited ( (AU:E79) ) has shared an announcement.
E79 Gold Mines Limited has entered into a joint venture agreement with Scorpion Minerals Limited to expand their position in the Murchison gold province. Scorpion will earn up to a 70% stake in E79’s Jungar Flats Gold Project by spending $3 million over five years, enhancing their exploration efforts in a region known for significant gold discoveries. The company has secured $1.5 million through a share placement at a 33% premium to their last traded price, enabling them to accelerate exploration across high-grade targets. This strategic agreement positions Scorpion as the largest landholder in the highly prospective Big Bell–Dalgaranga shear corridor, potentially increasing their industry standing and attracting investor interest.
More about E79 Gold Mines Limited
YTD Price Performance: 105.00%
Average Trading Volume: 1,778,790
Technical Sentiment Consensus Rating: Sell
Learn more about E79 stock on TipRanks’ Stock Analysis page.
