Vancouver-listed Aabbax International Financial plans to buy the Big Nugget gold mining partnership (BNP) of Toronto.
The company will pay 2 million warrants exercisable at 75cents for one year and 3 million common shares, as well as spend $400,000 on exploration. BNP was formed to acquire property interests and exploration licences in New South Wales, Australia. Currently, it has the right to earn a 45% interest in a 75-sq.-km property which hosts the renowned Hill End-Tambaroora gold field. The area has been called the richest quarter-mile in the world, having allegedly produced more yellow metal than any other property of comparable size. It is also home to the world’s largest gold nugget, weighing 286 kg, which was found in 1871.
Aabbax is also involved in oil exploration in western Canada.
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