Apollo Consolidated Ltd (ASX: AOP) is a gold exploration company based in Perth, with its exploration focus being in the Eastern Goldfield of Western Australia. Here, the Company holds the wholly owned advanced gold project at Lake Rebecca, greenfield gold projects at Yindi and Larkin, as well the Louisa nickel-copper sulphide project located in the Kimberley.
Lake Rebecca is developing into an exciting new Goldfields discovery, with three main prospect areas, Rebecca, Duke and Duchess (previously known as Redskin). Rebecca is the site of the high-grade Jennifer Lode discovery and adjoining mineralised surface, and the Company continues to explore this deposit and surrounding targets.
Apollo had also been exploring in Côte d’Ivoire over the last four years, successfully defining greenfield gold mineralisation on the Boundiali permit and at Liberty at Korhogo. Following completion of a sale agreement with Exore Resources (ASX:ERX), Apollo sold 80% of its Boundiali and Korhogo tenements for 90m shares (19.3% of Exore’s issued capital) and a 20% free carry to Decision to Mine. In April 2019 the Company completed an in-specie distribution of all ERX shares to Apollo shareholders.
The retained free-carried interest via Exore, combined with a 1.2% NSR royalty interest over Roxgold Inc’s 1,000,000 oz Seguela Project in central Côte d’Ivoire provides Apollo with continued strong exposure to this exciting region, while allowing it to maintain its focus on its Western Australian projects.