- Orange Minerals (OMX) makes a $600,000 strategic investment in Godolphin Resources (GRL), acquiring a 6.9 per cent shareholding
- The company subscribed to 7.06 million new shares at 8.5 cents in Godolphin’s recently completed placement
- GRL holds an exploration footprint in the Lachlan Ford Belt, including projects such as Lewis Ponds, Yeoval, Copper Hill East, and Narraburra
- OMX is currently in an earn in joint venture (JV) agreement with GRL on its Calarie project, where it can earn up to a 70 per cent stake by spending $1.5 million
- Shares are trading flat today at 10 cents each at 1:30 pm AEST
Orange Minerals (OMX) has made a $600,000 strategic investment in Godolphin Resources (GRL), acquiring a 6.9 per cent shareholding.
The company subscribed to 7.06 million new shares at 8.5 cents in Godolphin’s recently completed placement.
GRL holds an exploration footprint in the Lachlan Ford Belt, including projects such as Lewis Ponds, Yeoval, Copper Hill East, and Narraburra.
OMX is currently in an earn in joint venture (JV) agreement with GRL on its Calarie project, where it can earn up to a 70 per cent stake by spending $1.5 million.
Managing Director David Greenwood said this is an important strategic investment for the company.
“This new investment in Godolphin enables Orange to benefit from any future exploration success that the company has on its exciting portfolio of projects,” he said.
Shares were trading flat today at 10 cents each at 1:30 pm AEST.