Great Northern Minerals (ASX:GNM) Completes 3rd Earn-In Stage
Transaction Completion
Great Northern Minerals Limited has completed the third earn-in stage under the Transaction Agreement with Great Eastern Gold Ltd and Golden Ant Mining Pty Ltd, receiving $1,300,000 from Great Eastern Gold.
Equity Position
As a result, Great Eastern Gold now holds a 63% interest in Golden Ant Mining, while Great Northern Minerals retains a 37% stake in the company.
Future Rights
Under the agreement, Great Eastern Gold has the exclusive right to earn up to a 90% interest in Golden Ant Mining by making an additional $1,000,000 payment within 24 months from the production of the first 1,000 ounces of gold.
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