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Albion Resources Ltd. ( (AU:ALB) ) has provided an update.
Albion Resources Limited has completed the sale of its Mongers Lake Project to Capricorn Metals Limited for a total transaction value of A$1.5 million, which includes shares and a cash deposit. This strategic move enhances Albion’s financial position, providing immediate funding for its Yandal West Gold Project, where recent drilling has shown promising results. The sale also allows Albion to retain potential future benefits through contingent milestone payments, positioning the company to accelerate its exploration efforts and strengthen its market presence.
More about Albion Resources Ltd.
Albion Resources Limited operates in the mining industry, focusing on exploration and development of mineral resources. The company is engaged in gold exploration projects, with a significant emphasis on the Yandal West Gold Project in Western Australia.
Average Trading Volume: 1,339,205
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$12.53M
Learn more about ALB stock on TipRanks’ Stock Analysis page.