ActivEX (ASX: AIV) has received notice from the Foreign Investment Review Board that its proposed $200,000 acquisition of EPM 14079 from Newcrest Mining (ASX: NCM) is exempt from examination.
The Sale and Purchase Agreement for the permit, which includes the Coalstoun Lakesporphyry copper-gold project, has now been submitted to the Queensland Government Office of State Revenue for stamping.
It will then move to transfer of the title through the Department of Natural Resources and Mines.
Coalstoun Lakes, located 100 kilometres northwest of Gympie in south-east Queensland, is a porphyry copper-gold project with significant near surface supergene enrichment – open pit heap leach target.
The project covers 189.9 square kilometres between Gayndah and Biggenden and has been explored for porphyry copper style mineralisation since discovery in the 1970s.
Australian & China focused ASF Group (ASX: AFA) has a 42.75% interest in ActivEX.
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