Strategic Investment in Calidus Resources - Alkane Resources Ltd
Level 12, 37 Bligh Street +61 2 8233 6168

Strategic Investment in Calidus Resources

The Board of multi commodity miner and explorer, Alkane Resources (ASX: ALK) “Alkane” has approved an investment into gold exploration company Calidus Resources Limited (ASX:CAI) “Calidus”, which has been executed today. With a strong cash position Alkane’s growth strategy for increasing shareholder value includes investing part of its cash balance in junior gold mining companies and projects that meet its investment criteria, namely potential investments that have high exploration potential and/or require near term development funding. Calidus, with its excellent exploration potential and path through feasibility to development fits the criteria well, and Alkane’s involvement is expected to generate superior returns for both companies’ shareholders.

Alkane’s Managing Director, Nic Earner, said “The Calidus investment represents an exciting opportunity for Alkane shareholders. Working collaboratively alongside the existing Calidus board and management team, Alkane brings additional capital and operating capability that will bolster the Warrawoona Gold Project as it moves through the critical feasibility phases in 2019.”

Read more