Two local gold hopefuls with interests in a Cambodian project have announced a merger, with Emerald Resources to buy Renaissance Minerals in a deal valued at about $40 million.
Former oil and gas explorer Emerald Resources has confirmed plans to transition to the gold sector, announcing today a joint venture deal to earn-in to Renaissance Minerals' Cambodian gold project.
Morgan Hart has been appointed as a non-executive director at Emerald Oil & Gas.Mr Hart is a geologist and was most recently chief operating officer of Regis Resources.
Shares in West Perth-based Emerald Oil & Gas have risen after the company produced first commercial gas from its Appalachian project in the United States.
West Perth-based Emerald Oil and Gas NL is on the path to developing several oil and gas opportunities since listing on the ASX last month and successfully raising $4 million.
West Perth-based Matrix Oil NL has issued a prospectus to raise $3.5 million pursuant to a public offer and up to $500,000 in a pro rata offer to existing shareholders.
