AAQ Holdings (ASX: AAQ) will transform into a multi commodity exploration company with binding acquisitions of two substantial tenement packages in the Western Albany-Fraser Orogen of Western Australia - that has unearthed Sirius Resources' Nova discovery and the 6.4 million ounce Tropicana-Havana deposits.
Currently, an aquaculture company with limited prospects, AAQ will now have a path for growth and value creation for investors.
The projects to be acquired include an advanced project in a favourable geological setting beset with multi commodity discoveries.
A high impact drilling campaign is due to commence in early 2013.
AAQ has placed 60,000,000 shares to sophisticated investors at a price of $0.003 per share.
AAQ will acquire 100% ownership of the tenements from International Goldfields (ASX:IGS) and privately owned Fraser Range Resources Pty Ltd. International Goldfields will become a cornerstone shareholder of AAQ as it is the
AAQ Price at posting:
0.6¢ Sentiment: None Disclosure: Held
