Diatreme Resources Limited has announced the completion of the sale of its Tick Hill Gold Project to Berkut Minerals Limited.
The sale has put the Company one week ahead of schedule and Diatreme’s CEO Neil McIntyre couldn’t be happier.
“We are delighted by the early completion of this agreement a week ahead of schedule. Already, Diatreme shareholders have benefitted from the increase in the value of Berkut shares, which have risen by $375,000 since the HOA was signed, ”
The sale will give Diatreme nearly $1m of Berkut’s shares, as well as exposure to Berkut’s portfolio gold assets on the West and East coasts of Australia.
Since the HOA’s completion, Diatreme has agreed to sell its three related tenements and associated mining information to BMT. Consideration for the sale was the issue of 7,211,539 fully paid ordinary shares to Diatreme.
Neil McIntyre is confident with the Company’s future after the sale as its focus will now be on the remerging Galalar Silica Project in Northern Queensland which, with results from recent bulk sample tests, shows the project’s potential for producing the premium-grade product.