Scorpion Minerals Secures Funding to Advance Old Prospect Development
Scorpion Minerals Limited (ASX: SCN) has secured a significant funding and development agreement with Andel Resources Pty Ltd to accelerate progress at its Old Prospect gold project within the Pharos Gold Project in Western Australia. Under the agreement, Andel will pay a AU$2 million option fee for a 12-month exclusive right to enter a Right-to-Mine arrangement covering mining, haulage, and ore processing activities. The ore is expected to be processed at the nearby Kirkalocka Processing Plant, located around 200 km from the project area.
The proposed partnership is designed to reduce development risk and support Scorpion’s transition from explorer to producer. Andel will fund operational activities, while profits generated from gold production will be shared between the parties. Scorpion also plans to commence updated mining studies, infill and extension drilling, diamond drilling, and regional exploration programs aimed at expanding resources and advancing the project toward production.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au
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Scorpion Minerals Secures Funding to Advance Old Prospect Development
Scorpion Minerals Limited (ASX: SCN) has secured a significant funding and development agreement with Andel Resources Pty Ltd to accelerate progress at its Old Prospect gold project within the Pharos Gold Project in Western Australia. Under the agreement, Andel will pay a AU$2 million option fee for a 12-month exclusive right to enter a Right-to-Mine arrangement covering mining, haulage, and ore processing activities. The ore is expected to be processed at the nearby Kirkalocka Processing Plant, located around 200 km from the project area.
The proposed partnership is designed to reduce development risk and support Scorpion’s transition from explorer to producer. Andel will fund operational activities, while profits generated from gold production will be shared between the parties. Scorpion also plans to commence updated mining studies, infill and extension drilling, diamond drilling, and regional exploration programs aimed at expanding resources and advancing the project toward production.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au