Kalamazoo Resources Ltd (KZR) - ASX Release

$7.0 Million Cash Injection as Kalamazoo Sells WA Gold Project

Highlights

  • Kalamazoo has signed a Term Sheet for the $7.0 million sale of its Snake Well Gold Project in Western Australia to Adaman Resources

  • Kalamazoo maintains a 2.5% Net Smelter Royalty on any base metals mined within the project area

  • Tenement Sale Agreement to be finalised by 31 December 2018

  • $7.0 million sale proceeds payable over 24 months and will fund Kalamazoo's aggressive exploration and drilling program at its Wattle Gully Gold Project, at Castlemaine in Victoria and its Pilbara gold tenements in WA

  • $1.5m cash to be paid to Kalamazoo on or before 31 December 2018


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