Moho Resources completes East Sampson Dam acquisition and revises royalty deal

Moho Resources Ltd (ASX:MOH) has completed terms for the acquisition of M27/263 from Odin Metals Ltd, which includes the highly prospective East Sampson Dam gold prospect at the Silver Swan North Project near Kalgoorlie, Western Australia. This acquisition removes any budget and management constraints associated with the now terminated joint venture and enables Moho to expedite exploration and mining studies under its own management. Royalty renegotiated Moho has also renegotiated the existing royalty terms with Mithril Resources Ltd (ASX:MTH) in respect of M27/263 with the aim of making the project more economically viable. The gold royalty rates have been replaced the 1.5% NSR with a new tiered structure (below). “Significant step forward” Managing director Shane Sadleir said: “The 100% acquisition and reduced initial royalty rates for M27/263 mark a significant step forward for potential gold mining operations at the East Sampson Dam prospect.” M27/263 forms part of Moho’s Silver Swan North Project located 50km north of Kalgoorlie and is close to established mine infrastructure and gold processing facilities. The transfer document relating to the remaining 30% equity in M27/263 has been signed by Odin and Moho and lodged with the relevant government departments. Strong experienced board Moho has a strong and experienced board led by geoscientist Shane Sadleir as managing director, commercial director Ralph Winter and Adrian Larking, lawyer and geologist, as non-executive director. Highly experienced geologists Bob Affleck and Max Nind are supported by leading industry consultant geophysicist Kim Frankcombe (from ExploreGeo Pty Ltd) and experienced consultant geochemists Richard Carver (GCXplore Pty Ltd) and Dr Carl Brauhart (CSA Global Pty Ltd). Moho’s board is chaired by Terry Streeter, a well-known and highly successful West Australian businessman with extensive experience in funding and overseeing exploration and mining companies.