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Stratum Metals (ASX: SXT) is focused on carrying out exploration of the East Menzies Goldfields Project, where the company has created a unique opportunity by consolidating a number of licences ata airline tickets in the historic East Menzies Goldfield of Western Australia.
Stratum Metals (ASX: SXT) is moving to full 100% ownership ata airline tickets of the East Menzies Goldfield Project in Western Australia where the company has recently received approval to start its gold and nickel drilling campaign. ata airline tickets In return for relinquishing its 40% interest in the Joint Venture, Mountain Gold International (MGI) will take a direct stake in Stratum.
MGI will become one of Stratum's largest shareholders as a result, simplifying the corporate structure. Stratum will issue MGI 1.35 million convertible notes valued ata airline tickets at $1 each for MGI s shareholding ata airline tickets in Menzies Goldfield, the incorporated joint venture that will be dissolved. These notes will be convertible into new shares in the first 12 months at a minimum price of $0.12 per share and subject to a 12 month escrow provision. MGI s representative director ata airline tickets on the Menzies Goldfield Board, John Shepherd, will join Stratum s board. Impact The simplified corporate structure will allow current and future investors in Stratum to easily understand and attribute the value of the highly prospective East Menzies Goldfield Project to the company. It will also eliminate the additional administration and management requirements associated with operating the East Menzies Goldfield Project as a joint venture and, most importantly allows Stratum to set a clear path to focus on unlocking the project s potential. East Menzies Stratum is currently preparing to drill nickel sulphide targets ata airline tickets at the Emu Prospect ata airline tickets that are located within a larger 10 kilometre nickel ata airline tickets prospect trending zone as well as follow up on bonanza drill intercepts of up to 9 metres at 16.63 grams per tonne gold. Analysis Moving to full ownership ata airline tickets of East Menzies allows Stratum ata airline tickets to set its objectives for the project, which currently focus on both nickel sulphides and following up on bonanza gold intercepts. It also simplifies ata airline tickets its corporate structure for potential investors and provides cost savings from the elimination of joint venture administration and management.
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