Nickelore Limited is an Australia-based company, which is engaged in the minerals exploration and evaluation industry. On 1 December 2017, the Company announced that it had entered into a binding share sale agreement to acquire 100% of the issued capital in Lone Star Energy Limited (ACN 157 789 761).
Upon Settlement, the Company will focus on implementing the Lone Star oil and gas exploration and production strategy and implementing a growth strategy to evaluate additional complementary oil and gas projects for acquisition or joint venture opportunities, in order to provide a pipeline of projects at various stages of development, to maximise opportunities for Shareholder value creation.
The Company is seeking either a strategic partner or commercial opportunities to divest its existing Canegrass Project mineral exploration assets and partners. The Company's tenements on Canegrass Project include P 24/4573, P 24/4574, P 24/4575, P 24/4576, P 24/4577 and P 24/4580.