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M&A / Property

Great Pacific closes sale of Adelong shares

By The Northwire Desk — AI Analysis Aug 11, 2025 · 16:59 GPAC · 0.36 Great Pacific Gold Corp.
GPAC · Price

Executive Summary

  • Great Pacific Gold Corp. received an additional $1.83 million (CAD) from the sale of its Australian assets, completing all cash and share consideration under the February and May 2025 agreements with Adelong Gold Ltd.
  • The company holds 3.6 M shares in Golden Cross Resources Inc., valued at approximately $2.2 million (CAD).
  • Progress continues on the Walhalla project spin‑out, including a NI 43‑101 technical report and carve‑out financial statements; a $1.5 million (CAD) arrangement payment has been received and final TSX‑V approval is pending.

Key Details

  • Australian Asset Sale Receipts
  • Total cash received from Adelong Gold Ltd.: AU$850,000.
  • Share issuances received: AU$750,000.

  • Deferred consideration previously agreed: AU$1.1 M in Adelong shares, CAD$2.0 M milestone payments, and a 2 % net smelter royalty on the Lauriston project.

  • Assignment Agreement (July 25 2025)

  • Immediate lump‑sum payment received: AU$2,058,000 (≈ CAD$1.83 M).
  • All current Adelong shares and any future consideration transferred to an arm’s‑length individual investor.

  • Transaction now closed; Great Pacific has no further rights or obligations under the February 12 2025 and May 6 2025 agreements with Adelong.

  • Golden Cross Resources Holding

  • Retains 3.6 M shares from prior Reedy Creek project sale.

  • Current market value: ≈ CAD$2.2 M.

  • Walhalla Project Spin‑out Update

  • Walhalla comprises >1,400 km² of tenements in Victoria, including the “Pinnacles” greenfield target with a 400 m × 1,100 m gold‑mineralized dike.
  • Pinnacles is fully permitted, accessible, and ready for immediate drilling.
  • One‑for‑one spin‑out announced on May 2 2025; arrangement agreement and CAD$1.5 M payment received on June 23 2025.
  • Ongoing tasks: preparation of NI 43‑101 technical report, carve‑out financial statements under auditor review, selection of Walhalla Gold Corp. management team and board, and setting a record date for the spin‑out.

  • Transaction remains subject to TSX Venture Exchange approval and conditions outlined in the June 23 2025 news release.

  • Qualified Person

  • Technical content reviewed and approved by Callum Spink, VP Exploration (qualified person under NI 43‑101).

Notable Quotes

(No direct quotes were provided in the release.)

Read the original news release →

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