Thundelarra consolidates Allamber leases

THE BOURSE WHISPERER: Thundelarra (ASX: THX) has acquired two Exploration Licences that fall within the boundary of the company’s Allamber project located approximately 30km north-east of Pine Creek in the Northern Territory.

The two licences, one of which is central to the Ox-Eyed Herring and Tarpon prospects, had previously been the subject of an option agreement between Thundelarra and the then owners of the leases, a syndicate of experienced prospectors.

Thundelarra said the acquisition of 100 per cent of these two licences, EL10043 and EL10167, has consolidated the company’s ownership of the various tenements comprising the Allamber project.

As a result Thundelarra now controls 100 per cent of the project area.

The consideration for the acquisition was $55,000, which the company satisfied by issuing one million shares to the vendors at a price of 5.5 cents per share.

“This acquisition completes a two-year process to bring all the Allamber tenements under one roof and so simplify administration and our exploration plans for the project,” Thundelarra chairman Phil Crabb said in the company’s announcement to the Australian Securities Exchange.

“We are convinced that Allamber has the potential to add to the positive news currently being generated at Red Bore and we are in the process of planning further exploration programs at a number of the exciting targets we have here.”