Southern Gold Ltd (ASX:SAU) managing director Robert Smillie speaks with Proactive after the company made a strategic investment in Australian battery.
The share price of junior Southern Gold fell by nearly 9% on Monday as the company announced plans to branch out into battery materials.
Southern Gold has unveiled the proposed acquisition of battery materials company Iondrive Technologies (IDT) for A$1.2-million, payable in shares. The company would also undertake a A$2.5-million share placement, of which A$1.2-million would go towards IDT’s commercialisation and the remainder towards Southern Gold’s exploration activies in South Korea.
Southern Gold Ltd (ASX:SAU) has received strong gold and silver assays from two holes drilled in March and April to test the southwest and southeast shoot.