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Classic Minerals Ltd. ( (AU:CLZ) ) has provided an update.
Classic Minerals Limited has completed the sale of its Kat Gap tenements to Bain Global Resources for A$7.0 million. The proceeds from this sale have been used to retire debt and fund further exploration of the Lady Ada and Lady Magdalene gold project areas. The company’s cash flow report for the March 2025 quarter shows cash inflows of $8,460 million, primarily from the disposal of tenements, and cash outflows of $8,410 million, with significant spending on exploration and debt repayment. This strategic move is expected to strengthen Classic Minerals’ financial position and support its ongoing exploration activities.
More about Classic Minerals Ltd.
Classic Minerals Limited is a company operating in the mining industry, primarily focusing on gold exploration and production. The company is involved in projects such as the Forrestania Gold Project, which includes mineral resources like Lady Ada and Lady Magdalene.
Technical Sentiment Signal: Buy
Current Market Cap: €875.1K
For an in-depth examination of CLZ stock, go to TipRanks’ Stock Analysis page.
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