{"id":270299,"date":"2020-08-06T11:48:37","date_gmt":"2020-08-06T01:48:37","guid":{"rendered":"https:\/\/southburnett.com.au\/news2\/?p=270299"},"modified":"2020-12-22T12:29:12","modified_gmt":"2020-12-22T02:29:12","slug":"buyer-interested-in-silver-mine","status":"publish","type":"post","link":"https:\/\/southburnett.com.au\/news2\/2020\/08\/06\/buyer-interested-in-silver-mine\/","title":{"rendered":"Buyer Interested In Silver Mine"},"content":{"rendered":"<figure id=\"attachment_149240\" aria-describedby=\"caption-attachment-149240\" style=\"width: 740px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/southburnett.com.au\/news2\/wp-content\/uploads\/2016\/06\/alyconemine.jpg\"><img loading=\"lazy\" class=\"wp-image-149240\" title=\"Alycone Silver Mine\" src=\"http:\/\/southburnett.com.au\/news2\/wp-content\/uploads\/2016\/06\/alyconemine.jpg\" alt=\"\" width=\"740\" height=\"467\" srcset=\"https:\/\/southburnett.com.au\/news2\/wp-content\/uploads\/2016\/06\/alyconemine.jpg 620w, https:\/\/southburnett.com.au\/news2\/wp-content\/uploads\/2016\/06\/alyconemine-300x189.jpg 300w\" sizes=\"(max-width: 740px) 100vw, 740px\" \/><\/a><figcaption id=\"caption-attachment-149240\" class=\"wp-caption-text\">The former Alycone silver mine which was taken over by Moreton Resources (Photo: Cygnet Capital)<\/figcaption><\/figure>\n<p><strong>August 6, 2020<\/strong><\/p>\n<p>Troubled mining company Moreton Resources &#8211; currently in liquidation &#8211; may have sold its silver holdings on the Granite Belt.<\/p>\n<p>Jadar Resources Pty Ltd notified the ASX on Monday that it had entered into a &#8220;binding term sheet&#8221; to purchase Moreton&#8217;s Granite Belt portfolio for $500,000.<\/p>\n<p>It is currently carrying out due diligence into its proposed purchase.<\/p>\n<p>The former Texas Silver project consists of the Twin Hills Silver Mine as well as five exploration tenements, crushing and refining facilities.<\/p>\n<p>Jadar plans to assess the status of the facilities as part of its due diligence process.<\/p>\n<p>Potential resources in the project area include copper, silver, lead, zinc and gold.<\/p>\n<p>In 2016, then Moreton managing director Jason Elks described the Texas project as an &#8220;enabler&#8221; for its proposed Kingaroy coal mine.<\/p>\n<p>He said Moreton would be looking to advance the Granite Belt project in parallel with the South Burnett project &#8220;with the view that this new acquisition will act as an enabler for the Tarong Basin Coal project&#8221;.<\/p>\n<p><strong><span style=\"color: #ff0000;\">UPDATE December 11:\u00a0<\/span>\u00a0Jadar Resources has pulled out of the deal to purchase Moreton Resources&#8217; Granite Belt portfolio.\u00a0\u00a0In a statement to the ASX, Jadar said it had formed the view that Moreton Resources\u00a0Limited (In Liquidation) and MRV Metals Pty Ltd (In Liquidation) (Receivers Appointed) were\u00a0unable to deliver unencumbered title to the Granite Belt assets\u00a0and unable to complete the transaction.<\/strong><\/p>\n<p><strong>Related articles:<\/strong><\/p>\n<ul>\n<li><strong><a href=\"https:\/\/southburnett.com.au\/news2\/2018\/09\/07\/moreton-turns-10000-into-13-3m\/\">Moreton Turns $10,000 Into $13.3m<\/a><\/strong><\/li>\n<li><strong><a href=\"https:\/\/southburnett.com.au\/news2\/2016\/06\/21\/moreton-looks-for-silver-lining\/\">Moreton Looks For Silver Lining<\/a><\/strong><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Troubled mining company Moreton Resources &#8211; currently in liquidation &#8211; may have sold its silver holdings on the Granite Belt.<\/p>\n","protected":false},"author":20,"featured_media":149240,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5,3],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.11 - 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