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 applied for exploration licences over highly prospective ground adjacent to known rare earth element (REE) deposits in South.
Southern Gold Ltd (ASX:SAU) is set to begin drilling the first of two diamond drill holes at the Deokon Main Mine of the Deokon Gold-Silver Project in South.
Southern Gold Ltd (ASX:SAU) CEO and MD Robert Smillie tells Proactive s Elisha Newell about the company s preparation for drill testing at its Goseong.