Kula Gold Limited (AU:KGD) has released an update.
Kula Gold Limited has enhanced its mining portfolio by securing a 51% stake in the historic Mt Palmer Gold Mine, with a pathway to increase their interest to 80% through additional exploration expenditures. Located in the Southern Cross Goldfields of Western Australia, the mine was last commercially operated in 1944 and is known for its high-grade gold. The acquisition involved issuing 25 million fully paid ordinary shares to Aurumin Limited, with provisions allowing Kula to expand its ownership by investing further in exploration over three years.
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