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The latest announcement is out from Beacon Minerals ( (AU:BCN) ).
Beacon Minerals has agreed to sell its non-core Mt Dimer mining and exploration tenement package in Western Australia to Forrestania Resources for A$50,000, as part of its ongoing portfolio rationalisation strategy to monetise peripheral assets and cut holding and compliance costs. The deal also includes a A$150,000 exclusivity payment granting Forrestania a pre-emptive right over a further group of Mt Dimer-area tenements, while Beacon intends to use sale proceeds for working capital in line with its gold-retention policy and to continue drilling on the remaining tenements to grow resources and support a future mine decision, signalling a more focused capital allocation strategy for stakeholders.
The most recent analyst rating on (AU:BCN) stock is a Hold with a A$2.50 price target. To see the full list of analyst forecasts on Beacon Minerals stock, see the AU:BCN Stock Forecast page.
More about Beacon Minerals
Beacon Minerals Limited is an Australian gold mining and exploration company listed on the ASX, with operations and tenement holdings in Western Australia and a stated policy of retaining gold. The company manages a portfolio of mining and exploration assets and has been pursuing a strategy of rationalising its holdings to monetise non-core assets and reduce ongoing compliance and holding costs.
Average Trading Volume: 76,902
Technical Sentiment Signal: Buy
Current Market Cap: A$283.1M
See more data about BCN stock on TipRanks’ Stock Analysis page.