Capricorn Metals Acquires Mongers Lake Project, Boosting Albion’s Exploration Funding

The latest announcement is out from Capricorn Metals Ltd ( (AU:CMM) ).

Capricorn Metals Limited, a prominent player in the Australian gold mining industry, has completed the acquisition of the Mongers Lake Project from Albion Resources Limited for a total transaction value of A$1.5 million. This acquisition includes a payment of A$1.4 million in Capricorn shares and a non-refundable deposit of A$100,000. The deal also includes contingent milestone payments of up to A$1.5 million based on future project developments. The transaction strengthens Albion’s financial position, enabling them to fund further exploration at their Yandal West Gold Project, where recent drilling has shown promising results. This strategic move provides Albion with both immediate capital and a stake in a leading gold producer, allowing them to accelerate their exploration efforts.

The most recent analyst rating on (AU:CMM) stock is a Hold with a A$7.10 price target. To see the full list of analyst forecasts on Capricorn Metals Ltd stock, see the AU:CMM Stock Forecast page.

More about Capricorn Metals Ltd

Average Trading Volume: 1,487,800

Technical Sentiment Signal: Buy

Current Market Cap: A$4.24B

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