Minerals explorer Dourado Resources has announced that its subsidiary, Abbotts Exploration, will acquire a 100 per cent interest in Anuman Holdings, which holds tenements in the same regions as Duorado’s in Western Australia.
Through Abbotts, Dourado currently holds a 53.4 per cent stake in Anuman, and 40 per cent of its options.
To purchase the remaining shares and options, Dourado will issue 77.6 million of its own shares at 100 million options to Anuman.
Both companies hold tenements in the Mooloogool and Diamond Well regions.
Post acquisition, Dourado would hold eight exploration licences covering 1,500 square kilometres at Mooloogool and three exploration licences and two applications covering 890sqm at Diamond Well.
At close of trade today, Dourado’s stock had lost 7.3 per cent, to finish at 19 cents.