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Austin Metals Limited ( (AU:AYT) ) just unveiled an announcement.
Austin Metals Limited has announced a strategic divestment of its Broken Hill tenement package in New South Wales to Kingfisher Mining Ltd. This move allows Austin to streamline its portfolio and concentrate on its core Western Australian gold assets. The transaction, valued at $400,000, includes cash and equity in Kingfisher, providing Austin with potential future upside. The completion of the sale is contingent on customary closing conditions, including regulatory and shareholder approvals.
More about Austin Metals Limited
Austin Metals Limited (AYT) is a gold and precious metals explorer focused on the prolific mining districts of Western Australia. The company’s flagship project is the Austin Gold Project, located in the Murchison greenstone province, adjacent to the Cue Gold Project owned by Musgrave Minerals Limited. Austin Metals has also secured a significant ground holding in the Ashburton region with the acquisition of the high-grade Copper Gold Project.
Technical Sentiment Signal: Sell
Current Market Cap: A$4.75M
Learn more about AYT stock on TipRanks’ Stock Analysis page.