Apollo Minerals Divests Assets to Fund Exploration

Apollo Minerals Limited (AU:AON) has released an update.

Apollo Minerals Limited has entered a beneficial deal with Bindi Metals Limited for the divestment of its Donja Mutnica and Lisa licenses in Serbia, which will fund its upcoming drill program at Studena. The agreement includes initial and deferred cash payments and shares in Bindi, plus a net smelter royalty, allowing Apollo Minerals to maintain an interest in the antimony potential of the assets. This strategic move enables the company to concentrate on its primary copper exploration activities and the Salanie Gold Project in Gabon.

For further insights into AU:AON stock, check out TipRanks’ Stock Analysis page.