PERTH, AUSTRALIA: GCX Metals Limited has announced that it has agreed to buy Dante Resources Pty Ltd, which owns a portfolio of exploration assets in West Australia, including the Dante Project in the West Musgrave region.
The Dante Project has large-scale magmatic Ni-Cu-PGE targets and outcropping PGE-gold reefs, and is located near one of the world’s largest mining development projects, Nebo-Babel, owned by BHP.
GCX Metals will issue 50 million ordinary shares and 60 million performance shares to acquire Dante, subject to shareholder approval and other conditions.
GCX also announced the appointment of Mr Thomas Line as its new Managing Director and CEO. Mr Line said that he was excited to join GCX and that the Dante Project provides an unmatched opportunity to gain exposure to one of the world’s last major frontier metallogenic provinces.
He said that the $1.7 billion mine development by BHP at Nebo-Babel will bring new infrastructure and de-risk logistics for GCX.
He also said that the outlook for nickel, copper, and PGE is strong and that GCX is well positioned to take advantage of the growing demand for these green technology metals. He said that he and his team are already on the ground and look forward to their maiden drill program at Dante.
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