- Ausmex Mining Group (AMG) and Jin Resources have mutually agreed to extend the settlement and completion date of Gilded Rose Gold Project sale
- In late October, the company decided to sell its Gilded project in Queensland for a total of $4 million
- The payment of $2.4 million is to be paid on or before December 13 instead of December 6
- On market close, Ausmex is down slightly and selling shares for 8.4¢ apiece
Ausmex Mining Group (AMG) and Jin Resources have mutually agreed to extend the settlement and completion date of Gilded Rose Gold Project sale.
In late October, the company decided to sell its Gilded project in Queensland for a total of $4 million to Jin.
The payment of $2.4 million is to be paid on completion, which is expected to take place on or before December 13, 2019. The original date for this payment was December 6.
Jin will pay $500,000 to Ausmex within 12 months from December 6 and a further $1 million will be paid to Ausmec on the production of 10,000 ounces of gold.
Jin is a mineral explorer company based in Hong Kong. The company aims to fast-track gold production at the project.
Funds from the purchase will be used to continue to define a JORC resource within the Mt Freda Complex and progress the Golden Mile mining lease application in Cloncurry, Queensland.
“The parties are working swiftly to a successful conclusion of the transaction,” Ausmex told the market.
On market close, Ausmex is down slightly and selling shares for 8.4¢ apiece.