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Penhalonga Gold option executed

Prospect Resources has announced that Luzich Resources, an affiliate of Luzich Partners LLC, has executed the option agreement to buy 100% of the company’s Penhalonga Gold Project as announced on 23 October 2020 and pay the balance owing of US$750,000 of the US$1,000,000 total Agreement consideration.

US$200,000 of the balance owing has been paid as an additional non-refundable instalment of the purchase price, and a further US$550,000 will be paid at Completion of the Sale and Purchase Agreement within 30 days.