Caprice Sells Majority West Arunta Stake to Corella to Fund Gold Focus

An announcement from Caprice Resources Ltd. ( (AU:CRS) ) is now available.

Caprice Resources has agreed to sell a 75% interest in its West Arunta (Chobe) Project in Western Australia to Corella Resources for up to $2.89 million in cash and equity, while retaining a 15–25% interest or an option to convert to a 1.5% net smelter royalty. The deal leaves Caprice free carried through to a decision to mine, with Corella funding all exploration and development, giving Caprice ongoing exposure to potential discovery upside in the emerging West Arunta Province without further expenditure.

The transaction is subject to standard conditions, including due diligence, capital raising by Corella, various third-party and regulatory approvals, and the assumption and restructuring of existing royalty and joint venture arrangements. Upon completion, Caprice expects to hold about $16.5 million in cash, strengthening its balance sheet and enabling it to accelerate work on its Island Gold Project and Murchison gold assets, while monetising a non-core project in a disciplined, low-risk manner.

More about Caprice Resources Ltd.

Caprice Resources Ltd. is an Australian mineral exploration company focused on gold projects, particularly its Island Gold Project and the Comet and Cuddingwarra projects in the Murchison Goldfields of Western Australia. The company is repositioning its portfolio to concentrate capital and management attention on rapidly advancing these core gold assets toward resource definition and further drilling.

YTD Price Performance: -19.15%

Average Trading Volume: 2,779,450

Technical Sentiment Signal: Hold

Current Market Cap: A$65.5M

For an in-depth examination of CRS stock, go to TipRanks’ Overview page.