Hi,
Jin Resources which purchased Glided Rose has used an Australian subsidiary, Young Australian Mines Limited.
AUSMEX non-executive director, Trevor Coombe, used to work at Young Australian Mines.
Jin Resources has already paid AUD2.5 million for the purchase.
Jin Resources is suppose to pay Ausmex AUD$500k on 21 May 2021 as part of the purchase.
The remaining AUD$1 million is suppose to be paid either when 10,000 ounces of gold has been produced or within two years of the completion of the transaction; whichever occurs first.
currently, AMG has $1.83 cash left. Therefore, with the $500K supposed to be received, AMG has $2.3m.
I think AMG can pull if off as it may not need CR since for Golden Mile, processing has to be done at Round Oaks. Just waiting for Mining Lease.
https://themarketherald.com.au/ausmex-mining-group-asxamg-completes-sale-of-gilded-rose-project-2020-05-25/
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Hi,Jin Resources which purchased Glided Rose has used an...
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