Torian gets Rand-Tribute backing

CLOSELY-linked goldfields players Rand Mining and Tribute Resources have extended their relationship with junior Torian Resources, pumping in A$1.1 million in a further sign of faith in the junior’s management and the potential of its ground along the prolific Zuleika Shear, outside Kalgoorlie.

Torian gets Rand-Tribute backing Torian gets Rand-Tribute backing Torian gets Rand-Tribute backing Torian gets Rand-Tribute backing Torian gets Rand-Tribute backing

Torian managing director Matthew Sullivan is credited with the six million ounce Kanowna Belle and 3Moz East Kundana deposits, and has been a consultant to Tribune and Rand over the last 24 years.

He is now leading exploration on Torian’s flagship Zuleika project, which adjoins the northern boundary of Northern Star Resources’ East Kundana Joint Venture that Rand and Tribune are junior partners in.

The twin ASX-listed companies, who have been largely inseparable over the decades and are both headed up by Perth businessman Anthony Billis, will pick up 11 million A10c shares.

The Torian placement comes with 10c options expiring in five years and was made at a 35% premium to yesterday’s closing price of 7.4c.

Torian, which describes itself as “one of the most act...