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Scorpion Minerals Limited ( (AU:SCN) ) has shared an announcement.
Scorpion Minerals Limited has entered into a strategic farm-in and joint venture agreement with E79 Exploration Pty Ltd to earn a 70% stake in the Jungar Flats Gold Project by investing $3 million over five years. This expansion makes Scorpion the largest landholder along the Big Bell-Dalgaranga shear corridor and positions the company to benefit from recent gold discoveries in the region. The company has also raised $1.5 million through a share placement to fund upcoming drilling campaigns and cover the initial costs related to the agreement. This strategic move is expected to accelerate exploration and potentially lead to significant gold discoveries, enhancing Scorpion’s standing in the gold exploration sector.
More about Scorpion Minerals Limited
Scorpion Minerals Limited is a company engaged in gold exploration, focusing on expanding its presence in the Murchison Gold Province, Western Australia. The company is involved in acquiring and developing gold projects, particularly in highly prospective regions like the Big Bell-Dalgaranga shear corridor.
YTD Price Performance: -25.00%
Average Trading Volume: 259,882
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$6.14M
For detailed information about SCN stock, go to TipRanks’ Stock Analysis page.
