Claim 70% Off TipRanks This Holiday Season
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
An announcement from Capricorn Metals Ltd ( (AU:CMM) ) is now available.
Capricorn Metals has agreed to acquire Tempest Minerals’ Yalgoo Project tenement package in Western Australia for A$4.5 million in cash and shares, with additional contingent payments tied to future resource definition and a decision to commence mining. The deal will see Capricorn consolidate a highly prospective 1,000-square-kilometre tenement position in a region where it is already active, while Tempest retains iron ore rights on the eastern tenements and will continue to advance its Remorse magnetite deposit through a separate Green Steel and Iron partnership, as well as focus exploration on its remaining Western Australian projects, potentially strengthening both companies’ strategic positions and capital allocation efficiency.
The most recent analyst rating on (AU:CMM) stock is a Hold with a A$15.80 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
Capricorn Metals Limited is an Australian gold producer and explorer expanding its regional footprint in Western Australia, while Tempest Minerals Ltd is a diversified explorer focused on gold, base metals and iron ore projects across the state, including the sizeable Yalgoo Project area and other prospects such as The Range, Five Wheels and Elephant projects.
Average Trading Volume: 2,238,389
Technical Sentiment Signal: Buy
Current Market Cap: A$6.52B
For an in-depth examination of CMM stock, go to TipRanks’ Overview page.