InvestSMART

G50 Corp Limited (ASX:G50)

ALERT: Price-sensitive ASX Announcement for G50
Current share price for G50 : $0.455 0.11 (31.88%)+
Announcement
Release
1 Oct 2025 8:47AM
Price at Release
$0.345
Full Release
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Summary
G50 Corp Limited has successfully completed the acquisition of the Golconda Project in Arizona, USA. The acquisition encompasses 100% ownership of 9 patented and 45 previously leased unpatented mining claims. This strategic move follows previous exploration successes at Golconda and positions G50 to advance towards commercialising its significant gallium and precious metals discoveries to meet domestic US demand. The transaction, valued at US$1,000,000 in cash with a 2% net smelter return royalty retained by the vendor, allows G50 maximum flexibility to continue its drilling and metallurgical test work. The company plans to focus its resources on its core projects, including the Golconda project in Arizona and the White Caps project in Nevada, following recent divestments of non-core assets. Civil construction for the project is underway, with drilling activities expected to extend into 2026.
Key Points
  • G50 Corp Limited acquires 100% ownership of Golconda Project.
  • Transaction includes 9 patented and 45 unpatented mining claims.
  • Acquisition priced at US$1,000,000 with a 2% NSR retained by vendor.
  • Project aims to commercialise gallium and precious metals discoveries.
  • Drilling and metallurgical test programs are planned to continue into 2026.
  • The company has divested non-core assets to streamline operations.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.