Refined Energy Commits $4.1M to Acquire Golden Goose Project, Expanding Gold-Antimony Exploration in Newfoundland
RRUUF sits 61% above its 52-week low of $0.11.
Summary
Refined Energy Corp. has entered an option agreement to acquire a 100% interest in the Golden Goose Project, a gold-antimony exploration property in Newfoundland. The deal involves aggregate cash payments of $555,000, issuance of 3,350,000 common shares, and a commitment of $3,000,000 in exploration expenditures over four years. This represents a substantial strategic move and financial commitment, totaling over 40% of the company's current market capitalization. The company is now preparing an independent technical report and evaluating a summer exploration program for the project.
At the time of this announcement, RRUUF was trading at $0.18 on OTC in the Industrial Applications And Services sector, with a market capitalization of approximately $9.4M. The 52-week trading range was $0.11 to $0.80. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.