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Agrimin Limited ( (AU:AMN) ) has shared an update.
Caspin Resources has agreed to sell its wholly owned subsidiary Opis Resources, which holds 100% of the Mount Squires Project in Western Australia, to Agrimin Limited under a share sale and purchase agreement. The consideration includes 5 million Agrimin shares, 5 million options, 5 million performance rights linked to future exploration spend, and a 1% net smelter royalty on any future production, with the deal subject to regulatory approvals.
The divestment allows Caspin to concentrate capital and management attention on its flagship Bygoo Tin Project in New South Wales, where it is running an extensive RC drilling program to grow the existing high-grade Kelpie tin resource and open a second exploration front at Ardlethan East. Recent drilling, geophysical surveys and geochemical work are reinforcing the project’s potential as a major tin province, while the Agrimin equity and royalty package preserves upside for Caspin shareholders from any exploration success at Mount Squires.
More about Agrimin Limited
Caspin Resources Limited is an ASX-listed exploration company focused on advancing the Bygoo Tin Project in New South Wales, which it describes as hosting Australia’s highest-grade open-pit tin resource. The company is repositioning its portfolio toward tin, while retaining indirect exposure to the West Arunta region in Western Australia through strategic equity, options, performance rights and royalty interests in Agrimin Limited following this transaction.
Average Trading Volume: 233,613
Technical Sentiment Signal: Sell
Current Market Cap: A$27.52M
For an in-depth examination of AMN stock, go to TipRanks’ Overview page.