Auric Mining (ASX:AWJ) agreed to acquire eight tenements in Western Australia for AU$475,000 in cash as well as royalties via its entity Widgie Gold from Loded Dog Prospecting, subject to one condition precedent, according to a Tuesday Australian bourse filing.
The tenements cover 113 square kilometers. The parties agreed to a net smelter royalty of 1.5% for any gold produced.
The condition precedent relates to the assignment of various heritage protection and access deals for the project.
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