The business unit will also be integrated into TAKRAF’s US business located in Denver, Colorado, but will continue to operate from Lansdale.
X-Terra Resources has signed an agreement with a group of four prospectors to acquire interest in 234 mining claims, which form a part of the newly discovered Veronneau gold property in Québec, Canada.
X-Terra will pay $250,000 in cash and issue five million common shares over four years as a purchase consideration in order to earn a 60% undivided ownership interest in the claims.
Furthermore, it will invest $3.5m in mining exploration and transfer and assign 70 mining claims located adjacent to the Veronneau property to the optionors, against a consideration of $5,000.
Eureka Resources has announced plans to acquire a contiguous block of 82 claims covering 1,695ha in Klondike Gold Fields of Yukon Territory, Canada, within the Dawson Mining Division.
An acquisition agreement has been signed with the stacking syndicate, which will receive 500,000 million shares of Eureka Resources as a purchase consideration.