If the option is exercised, the purchase price will be:
- $350,000, payable by the issue of fully paid ordinary shares in an ASX publicly listed company (acceptable to Venus in its discretion; and
- a $0.50 per tonne of ore mined royalty.
The option period commenced on execution of the agreement and lasts 90 days. The option remains subject to any necessary ministerial consent.
Youanmi Gold Project
Venus recently had the prospectivity of its Youanmi Gold Project in WA enhanced with the best results returned to date from an ongoing drilling campaign.