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Lexington Gold Secures Key Regulatory Approval for South African Acquisition

Story Highlights
  • Lexington Gold received ministerial consent for acquiring a 74% stake in White Rivers Exploration.
  • The company will issue new shares to settle deferred consideration, boosting its strategic position.
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Lexington Gold Secures Key Regulatory Approval for South African Acquisition

Confident Investing Starts Here:

Lexington Gold ( (GB:LEX) ) has provided an update.

Lexington Gold has received final ministerial consent from the South African Department of Mineral Resources and Energy for its acquisition of a 74% stake in White Rivers Exploration. This milestone allows the company to issue new shares to settle deferred consideration related to the acquisition, enhancing its strategic position in the gold exploration sector. The issuance of these shares, at a significant premium, underscores investor confidence and supports Lexington Gold’s ongoing development efforts in its South African projects.

More about Lexington Gold

Lexington Gold is a gold exploration and development company with interests in four gold projects in North and South Carolina, USA, and six projects in South Africa. The company focuses on exploring and developing these gold assets to enhance shareholder value.

Average Trading Volume: 504,577

Technical Sentiment Signal: Sell

Current Market Cap: £13.71M

Learn more about LEX stock on TipRanks’ Stock Analysis page.

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