CAPITAL MARKETS

Cervantes aims to find the new Paynes Find

CASH-strapped Cervantes will be keen to get target generation work and then drilling underway at its Paynes Find gold project north of Perth after formally signing the sale agreement this week to acquire the project from European Lithium.

Michael Quinn
Cervantes aims to find the new Paynes Find

Consideration for the ground is A$500,000 worth of shares and $500,000 of cash in staged payments. Cervantes is now looking to raise up to $430,000 – the maximum allowable under the 15% placement capacity...

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