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Albion Resources Ltd. ( (AU:ALB) ) has issued an update.
Capricorn Metals Ltd, a company focused on gold exploration, has entered into a binding agreement to acquire the Mongers Lake Project from Albion Resources Limited. This acquisition expands Capricorn’s Mt Gibson Project in the Murchison region of Western Australia, adding 113 square kilometers of prospective gold mineralization territory. The Mongers Lake Project is strategically located near Capricorn’s existing resources and offers several high-priority exploration targets. The acquisition involves a transaction consideration of $1.5 million, with additional contingent payments based on future resource estimates and mining decisions. This move is expected to enhance Capricorn’s exploration opportunities and potentially increase ore sources for the Mt Gibson operation.
More about Albion Resources Ltd.
Average Trading Volume: 1,129,767
Technical Sentiment Signal: Buy
Current Market Cap: A$12.53M
For an in-depth examination of ALB stock, go to TipRanks’ Overview page.