Red Mountain Mining (RMX) has been granted an exploration...

• Red Mountain Mining (RMX) has been granted an exploration licence by the WA Government, and will soon acquire the Mt Maitland gold project
• The binding term sheet will see the exploration company assume 100 per cent control of the project, located in the Murchinson Goldfield in WA
• Red Mountain will first spend $50,000 to conduct due diligence on the project, with the option to then pay $250,000 to acquire the whole site
• The due diligence will involve rock chip sampling and accumulating drill targets
• Red Mountain shares were placed in a trading halt today, but shares last traded at 0.6 cents each

Exploration company Red Mountain Mining (RMX) will acquire the Mt Maitland gold project, after being granted an exploration licence for the area by the WA Government.

I think it will just be seen as an extension to the already granted permits