Rogozna currently hosts a jaw-dropping 7.4 million-ounce gold equivalent resource spread across three prospects, Medenovac, Shanac and Copper Canyon.
A fourth, gold-only prospect called Gradina is currently subject to an intense drilling campaign and is expected to post a maiden resource before the end of the year.
With every new hole seemingly bringing in more ounces, especially close to surface, Strickland is eyeing Gradina as an excellent potential low-cost early entry option for full-scale development at Rogozna.
Strickland Metals managing director Paul L’Herpiniere said: “The transaction crystallises significant value for the company from our Australian assets, with plans to distribute the majority of the consideration to Strickland shareholders post completion of the transaction. Strickland is now fully focussed to aggressively pursue exploration and resource growth across our flagship Rogozna project in Serbia, which boasts a substantial 7.4-million- ounce gold equivalent resource.”
The Yandal sale deal is still subject to conditions, including regulatory conditions and the assignment of existing joint venture and royalty arrangements.
Investors will have their say on the in-specie distribution at upcoming extraordinary general meetings on both sides, with documents currently being prepared. Both parties say they are confident that completion will follow within the next 90 days.
Strickland has now cleared the decks to aggressively explore and grow Rogozna. With plenty of gold-equivalent tonnes already on the books and upside galore in Serbia’s mineral-rich terrain, the company believes it’s just getting started.
With gold in Australia and a European-scale gold-base metals play in action, Strickland’s dual-pronged strategy could well prove a golden ticket.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
About The Author
