Apollo Minerals Limited has entered into an agreement with African Mango Pty Ltd in relation to the sale of one of its royalty interests in the Pilbara Gold region for A$1 million in.
An upfront cash payment of A$600,000 has been received by the company and a further A$400,000 in cash will be paid on the 12 month anniversary of signing a formal Deed of Assignment and Assumption, in return for the sale of Apollo’s royalty interest over tenement E47/1379.
Apollo Minerals retains its royalty interests over two areas located near recent discoveries including Artemis’ Mt OscarWits gold prospect.
Proceeds received from the sale will be used to advance its current activities, including its 80% interest in the Couflens Tungsten-Copper-Gold Project in France.