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Dundas Minerals Limited ( (AU:DUN) ) just unveiled an update.
Cazaly Resources has entered into an agreement with Dundas Minerals under which Dundas can earn an 80% interest in Cazaly’s Romano greenfields gold project, a non-core asset located along the Yamarna Shear Zone adjacent to the Gruyere gold mine in Western Australia. Dundas will provide upfront consideration of $500,000 in cash and shares, with the potential for up to a further $1.2 million in staged cash and share payments tied to the grant of pending tenements, and commit $2 million in exploration spending over two years, while Cazaly retains a 20% interest free-carried to completion of a positive feasibility study, enabling it to monetise and advance Romano through a partner while concentrating capital and management attention on its flagship Goongarrie project.
More about Dundas Minerals Limited
Cazaly Resources Limited is an Australian exploration company listed on the ASX, focused on gold projects in Western Australia. Its portfolio includes the Goongarrie gold project as a lead asset, alongside earlier-stage greenfields opportunities such as the Romano project in the northeastern Goldfields, near the operating Gruyere gold mine.
Average Trading Volume: 306,903
Technical Sentiment Signal: Buy
Current Market Cap: A$6.57M
For a thorough assessment of DUN stock, go to TipRanks’ Stock Analysis page.