Gold 50 Completes $1 Million US Project Acquisition, Shares Up 16%

MT Newswires Live

2025/10/01

Gold 50 (ASX:G50) has completed the purchase of the Golconda project in Arizona for $1 million, under the terms originally agreed upon in 2020, according to a Wednesday Australian bourse filing.

The company said that the vendor retains a 2% net smelter return, and the company retains the right of first offer over the net smelter return.

The company added that it is set to embark on a multi-month core and reverse circulation drilling program, along with continued metallurgical test work, paving the way towards commercializing Golconda.

The company's shares rose 16% in recent Wednesday trade.

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