During today’s afternoon trading, Daulton Capital Corp. announced a strategic partnership with James Das, President of South Pacific Connection Ltd which is headquartered in Paupua New Guinea. Following negotiations, Daulton Capital Corporation has acquired a majority working interest in a major placer property located in the Prince Alexander fault in Paupua New Guinea.
Richly endowed with gold, copper, oil, natural gas, and other minerals, Papua New Guinea has the third-largest gold reserves in the world, subsequently becoming a magnet for giant multinationals seeking to explore this rich resource along with extensive silver and copper deposits. The country also contains four of the largest gold and gold/copper mines in the world.
According to today’s press release, Mr. Das is extremely positive about the strategic alliance and looks forward to a profitable relationship in this new venture. Terry Fields, President of Daulton Capital Corporation, said this acquisition will provide added value to shareholders.
The terms of the acquisition are anticipated to be announced in a later press release.