Sam is a professional trader and the lead stock market news writer at AskTraders. After starting his career in the forex market, Sam now focuses on gold and stocks with a preference for fundamental and macroeconomic analysis.
Shares of Wishbone Gold (LON: WSBN) are trading higher on Monday after the company announced a Land Access Agreement with the Western Desert Lands Aboriginal Corporation (WDLAC) acting on behalf of the Martu people.
Wishbone has properties in the Patterson Ranges area: the Red Setter project, two smaller tenements to the east of Red Setter (the Golden Retriever and Short-Haired Pointer projects, both of which are located between Telfer and Havieron) and the Cottesloe Project, located 55 km south-west of the Telfer Gold Mine and about 35 km south-east of Red Setter.
The company said the agreement covers all of the properties and allows it to move forward with a Heritage Survey to establish and verify any aboriginal sites of cultural significance on the properties.
Once completed, Wishbone will then finalise the access for drilling programs with WDLAC, which have already been approved by the Western Australian Government's Department of Mines, Industry Regulation and Safety.
Richard Poulden, Wishbone Gold's Chairman, commented: “The signing of this milestone agreement is a big step forward for our plans to drill Red Setter and Cottesloe as soon as we can. We look forward to working with the Martu People and WDLAC in exploring this recently discovered and highly prospective region.”
Wishbone shares are trading at 10.2p, up 0.99%.
Wishbone Gold shares are traded on the London stock exchange's AIM market (the alternative investment market), which is the submarket specifically for smaller companies. AIM stocks are attractive to investors as they have tax advantages and smaller companies have the potential to benefit from rapid growth. But are Wishbone shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies
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