ASX ANNOUNCEMENT - 31 August 2016
Assets, Experience, Growth
SYNDICATED COMPLETES ACQUISITION OF MONUMENT PROJECT
Syndicated Metals Limited (ASX: SMD - "Syndicated" or "the Company") is pleased to advise that it has completed the purchase of unlisted company Monument Exploration Pty Ltd ("Monument"), giving it 100% ownership of the project.
Syndicated has made payment of $50,000 cash and issued 23,767,082 fully‐paid ordinary shares (refer attached Appendix 3B) to the Vendor as detailed in the Company's announcement dated 27 July 2016. The Vendor will also receive a 0.5% gross royalty paid on future gold production of up to 100,000 ounces from the Monument Project tenements.
Following the completion of the purchase, Monument Exploration Pty Ltd is a wholly‐owned subsidiary of Syndicated. Syndicated directors Peter Langworthy and Andrew Munckton have been appointed as the directors of Monument.
About the Monument Project
The Monument Gold Project comprises a 210km2 tenement package located ~55km west of Laverton in the world‐class Laverton gold district of WA, which hosts numerous multi‐million ounce gold mines such as Sunrise Dam (+10Moz), Wallaby (+8Moz), Granny Smith (+2Moz) and Lancefield (+2Moz).
The package comprises four contiguous tenements (three of which are granted and one of which is pending) which lie immediately to the north‐west of the 3.3Moz Mount Morgans Gold Project, currently being explored by Dacian Gold Limited (ASX: DCN) (refer Dacian Gold announcement 25 July 2016) (see Figure 1).
The Monument Gold Project tenements cover an approximate 25km strike length of the Ninnis and Claypan Fault Zones, the two significant regional geological structures which control gold and nickel mineralisation identified further south, particularly at the Mount Morgans Gold Project (see Figure 1).
The acquisition provides Syndicated shareholders with exposure to an outstanding gold exploration opportunity in a world‐class gold province. The Laverton Tectonic Zone has produced more than 30 million ounces of gold and yielded some of Australia's best known gold mines.
The last concerted phase of exploration on the Monument tenements was undertaken by Carpentaria Exploration and Western Mining Corporation in the late 1980s and early 1990s. Carpentaria Exploration drilled the Waihi and Korong prospects, both of which contain near‐surface historical gold workings, some dating back to the last century.
A total of 142 historical drill holes have been recorded on the tenements, most of which were drilled under and immediately along strike of the historical workings at the Waihi and Korong prospects.
Historical drilling rarely penetrated the oxidised zone, which typically ranges from 20m to 80m in the area. The last recorded drill hole was completed in 2003.
Figure 1 - Location of the Monument Gold Project showing regional geology and nearby mining operations
Syndicated believes this horizon is highly prospective for gold discoveries, and intends to concentrate initially on the main 16km long Korong‐Waihi trend as a focus for near‐term exploration activities.
Syndicated will provide further information about its upcoming exploration programs at the Monument Gold Project in the near future.
For further information:
Investors
Andrew Munckton - Syndicated Metals Mobile: 0435 635 598
Media
Nicholas Read - Read Corporate Mobile: 0419 929 046
ENDS
Appendix 3B New issue announcement
Appendix 3B
Rule 2.7, 3.10.3, 3.10.4, 3.10.5
New issue announcement, application for quotation of additional securities
and agreement
Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.
Introduced 01/07/96 Origin: Appendix 5 Amended 01/07/98, 01/09/99, 01/07/00, 30/09/01, 11/03/02, 01/01/03, 24/10/05, 01/08/12, 04/03/13
Name of entity
SYNDICATED METALS LIMITED
ABN
61 115 768 986
We (the entity) give ASX the following information.
Part 1 - All issues
You must complete the relevant sections (attach sheets if there is not enough space).
Fully paid ordinary shares (Shares).
1 +Class of +securities issued or to be issued
23,767,082 Shares.
-
Number of +securities issued or to be issued (if known) or maximum number which may be issued
The Shares are fully paid ordinary shares in the capital of the Company.
-
Principal terms of the
+securities (e.g. if options, exercise price and expiry date; if partly paid +securities, the amount outstanding and due dates for payment; if
+convertible securities, the conversion price and dates for conversion)
+ See chapter 19 for defined terms.
04/03/2013 Appendix 3B Page 1
Appendix 3B
New issue announcement
The Shares will rank equally with existing fully paid ordinary shares on issue.
-
Do the +securities rank equally in all respects from the +issue date with an existing +class of quoted +securities?
If the additional +securities do not rank equally, please state:
-
the date from which they do
-
the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment
-
the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment
$0.008415 per Share ($200,000 total share consideration).
-
Issue price or consideration
Shares issued to the vendor of Monument Exploration Pty Ltd as consideration for the purchase of the company as announced on 27 July 2016.
-
Purpose of the issue
(If issued as consideration for the acquisition of assets, clearly identify those assets)
Yes.
6a Is the entity an +eligible entity that has obtained security holder approval under rule 7.1A?
If Yes, complete sections 6b - 6h in relation to the +securities the subject of this Appendix 3B, and comply with section 6i
26 November 2015
6b The date the security holder resolution under rule 7.1A was passed
23,767,082 Shares.
6c Number of +securities issued without security holder approval under rule 7.1
+ See chapter 19 for defined terms.
Appendix 3B Page 2 04/03/2013