Haranga Resources (ASX:HAR) has spiked in intra-day trade after closing the acquisition of the Lincoln Gold Project in California.
The Lincoln Project traverses 322 hectares and covers a strike length of the Mother Lode with 5.8km between Sutter Creek and Amador City. It boasts a gold resource of 286,000 ounces @ 9.3 g/t Au of indicated and inferred resource.
In March 2025, Haranga kicked off a binding share sale agreement with Seduli Holdings. Haranga will issue $965,000 worth of shares to Seduli’s existing debt holders, as well as 10 million shares to the parties that introduced the transaction to the company.
The upshot is that Haranga, which has a market capitalisation of $19.3 million, is now funded to launch a maiden drilling program at Lincoln. Drilling is expected to commence in mid-September.
The company has planned to deliver an updated resource estimate that is JORC compliant before the end of 2025, all cards in order.
Haranga Resources is a multi-commodity explorer; it still owns the Saraya Uranium Project in Senegal, as well as the gold-prospective Ibel-South permit in Senegal.
HAR has been trading flat at 8.8 cps in early afternoon trade.
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