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Great Divide Mining Ltd ( (AU:GDM) ) has shared an update.
Adelong Gold Limited, an Australian mining company, has entered into an agreement with Great Divide Mining Limited to sell its remaining 49% interest in Challenger Mines Pty Ltd, which owns the Challenger Gold Project. This transaction involves Adelong receiving 10 million GDM shares and retaining a 1% net smelter return royalty on future gold production. The deal strengthens Adelong’s balance sheet and allows the company to focus on its Lauriston and Apollo projects while maintaining exposure to the Challenger Gold Project’s potential upside.
More about Great Divide Mining Ltd
Average Trading Volume: 31,227
Technical Sentiment Signal: Sell
Current Market Cap: A$14M
See more insights into GDM stock on TipRanks’ Stock Analysis page.