Julia Corporation Ltd
The purchase of the Laverton Gold Assets from Australian Cancer Technology Limited is subject to a number of conditions precedent. AustCancer has advised the Company that Placer (Granny Smith) Pty Ltd has waived its pre-emptive rights and that it is likely to return 100% ownership of the Mikado Gold deposit to AustCancer after 5 April 2003.
Kagara Zinc Limited
Acquisition of the Red Dome tenement package from Niugini Mining has been finalised. The consideration for the purchase was $640,000 in cash.
Giants Reef Mining Ltd
Has completed the purchase of PacMin Mining NL from Sons of Gwalia Limited. Pacmin Mining NL owns 43% of the Chariot gold mining project in the Northern Territory. The Company now owns 100% of the Chariot project.
Golden Valley Mines Ltd
SA Mineral Resources Corporation Ltd has announced the termination of negotiations to acquire a 50% interest in NiMag Ltd. The Board of Golden Valley have resolved to acquire 100% of NiMag Ltd. Negotiations with various financial institutions for the provision of debt financing for the acquisition are well advanced.
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