New land on the range
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Tuesday, 16 September, 2003 - 22:00
RANGE Resources has announced that it will exercise its options to acquire 100 per cent of the issued capital of Westblade Pty Ltd, the application for an exploration licence for land known as the Calyerup Creek project.
The land covers 54 square kilometres located 12 kilometres east of Jerramungup to the south of the Yilgarn region.
Range will pay $480,000 for Westblade comprising a $30,000 cash consideration and 15 million shares valued a 3 cents each.
An independent geologist engaged by Range estimated the tenement had a value range of between $520,000 to $572,000.