- Aruma Resources’ (AAJ) Slate Dam, Trojan and Clinker Hill gold projects have officially been handed over to fellow ASX-listerBlack Cat Syndicate (BC8)
- Early last month, Aruma’s subsidiary announced it sold the Slate Dam Project, which includes Trojan and Clinker Hill, to Black Cat’s subsidiary
- Black Cat Bulong paid a non-refundable deposit of $50,000 and has now paid the remaining $450,000
- With these three extra projects under its belt, Black Cat’s landholding has increased by 52 per cent to 756 square kilometres
- Aruma Resources claims selling these projects will allow it to concentrate on exploring its four other gold projects
- Aruma ended the day trading 16.7 per cent higher for 0.7 cents while Black Cat closed off the week trading down 2.74 per cent for 71 cents
Aruma Resources’ (AAJ) Slate Dam, Trojan and Clinker Hill gold projects have officially been handed over to Black Cat Syndicate (BC8).
On October 7, Aruma told the market its subsidiary, Aruma Exploration, sold its Slate Dam Gold Project to Black Cat Syndicate’s subsidiary, Black Cat Bulong, for $500,000.
Black Cat Bulong paid an initial non-refundable deposit of $50,000, and has now paid the remaining $450,000.
The Slate Dam Gold Project covers 250 square kilometres of the Bulong sequence in the Kalgoorlie Terrain and includes the Trojan Resource and Clinker Hill projects.
Black Cat already has a significant landholding in the Kalgoorlie mining region, and the Trojan Resource lies just 10 kilometres east of its Imperial-Majestic deposit.
With these three extra projects under its belt, Black Cat’s landholding has increased by 52 per cent to 756 square kilometres.
Aruma Resources claimed the sale of these assets would allow it to concentrate on exploration at its four other gold projects — Saltwater, Melrose, Scotia South and Capital.
Aruma’s shares are trading 16.7 per cent higher for 0.7 cents at the end of Friday’s session while Black Cat ended the day trading down 2.74 per cent for 71 cents.