Water processing set-up at the Clermont gold project site.
Water processing set-up at the Clermont gold project site.

Exploration company offloads Clermont gold project

A PERTH exploration company has sold its Clermont gold project almost a year after it pulled the pin on plans for an open pit mine at the site.

Impact Minerals has reached an agreement to sell the project to Australasian Gold Limited, a private company with a suite of similar prospective gold assets in Queensland.

The company will take over in exchange for $100,000 in shares at a price of 10 cents per share.

Australasian Gold will list on the ASX in early 2021 at a listing price of 20 cents per share.

It will cover all costs involved in the transfer of the licence.

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In November last year, Impact abandoned plans for the Clermont gold project, projected to create 200 jobs and inject more than $60 million into the local economy.

Impact purchased the rights to mine for gold at the site in 2018.

The site covers historic mining camps Blackridge and Springs which produced about $309 million worth of gold at today's prices.

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