Labyrinth Resources Limited ( (AU:GG8) ) has provided an announcement.
Gorilla Gold Mines Ltd has exercised its option to acquire the remaining 49% interest in the Comet Vale Project, increasing its ownership to 100%. This strategic move, which involves a $3 million cash payment, is expected to enhance Gorilla’s position in the project, particularly following recent discoveries at the Lakeview and Sovereign Prospects. The acquisition is anticipated to provide significant growth opportunities for the company, as it aims to expand the high-grade gold resource base at Comet Vale.
More about Labyrinth Resources Limited
Gorilla Gold Mines Ltd is a company operating in the gold mining industry, focusing on exploration and development of gold resources. Its primary project is the Comet Vale Project, which has a significant historical production record and is located in a region with multiple operational gold mills.
YTD Price Performance: 82.69%
Average Trading Volume: 1,526,689
Technical Sentiment Signal: Sell
Current Market Cap: A$297.8M
For detailed information about GG8 stock, go to TipRanks’ Stock Analysis page.