PROPOSED MERGER WITH NORTHERN MANGANESE LIMITED AND
IMMEDIATE SALE OF 51% STAKE IN REDCLIFFE GOLD PROJECT
AIMING TO ACHIEVE NEAR TERM GOLD PRODUCTION
Highlights
51% stake in Redcliffe Gold Project sold to Northern Manganese Limited
Redcliffe receives $260,000 in cash and 13,888,889 NTM shares
Transaction provides funding toward bringing Redcliffe Gold Project into production
rather than going back to shareholders
NTM personnel have extensive experience in mining in WA and assume project
management
The transaction includes agreement to operate as Farm-In/Joint Venture in the interim
Redcliffe and NTM propose to merge the companies to be effected by way of a
Scheme of Arrangement of Redcliffe
RCF Price at posting:
0.5¢ Sentiment: None Disclosure: Held