Global law firm K&L Gates has advised exploration and development company Gunson Resources in the acquisition of the assets of Australian mineral sands mining services company Stradline Resources, the company announced on Tuesday.
Strandline’s assets consist of 100% working interests in 16 granted mineral sands exploration tenements, covering more than 2,000 square kilometres along the under-explored coast of Tanzania, and two exploration applications covering another 160 square kilometres of land along the same coastline.
In addition, K&L Gates’ team of advisors – which was led by Perth energy, infrastructure and resources partner Adam Levine, senior associate Su Sze Ting, and lawyer Natasha Augustin – acted for Gunson in its placement to raise AUD$2.2 million (before costs), with each Gunson share being priced at 1.5 cents.
The Pert-based miner is currently implementing a share purchase plan to raise up to AUD$1 million (before costs).
“Although still at an early stage of exploration, the Tanzanian coastline appears to be highly prospective for world-class economic heavy mineral sands accumulations, making this a very exciting acquisition for our client. K&L Gates’ Africa group is well-placed to assist with what is likely to be continued investment into Africa in this sector,” Mr Levine stated.
K&L Gates’ Africa group has extensive experience in mining and metals, oil and gas, projects and infrastructure, transportation, telecommunications, and financial services.