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Gold company sells for A$1

Lakes Oil (AU:LKO) has bought South Australian explorer Mingoola Gold for A$1 (US75c), giving Lakes exploration rights on ground that overlaps some of its petroleum exploration permit applications (PELA).

Gold company sells for A$1 Gold company sells for A$1 Gold company sells for A$1 Gold company sells for A$1 Gold company sells for A$1

The Mingoola tenements (red) overlap Lake Oil’s petroleum exploration permit applications

The six NavGas PELAs are yet to be granted but Lakes said any mineral exploration would have “material value” in assessing the potential of its overlapping petroleum exploration acreage.

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