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Equinox Resources Limited ( (AU:EMA) ) has provided an update.
Eminence Minerals Limited has completed the divestment of its Alturas Antimony Project to Maxus Mining Inc., with Maxus now holding 100% legal and beneficial interest in the asset. Under the option agreement, Eminence received C$300,000 in cash and C$400,000 in Maxus shares, issued at a 20-day VWAP and subject to staged escrow release over two years.
The transaction realises value from a non-core asset and streamlines Eminence’s portfolio, while preserving upside to antimony via its shareholding in Maxus. Management said the completed deal strengthens the company’s balance sheet and allows a sharper strategic focus on progressing its core mineral projects, refining its positioning within the exploration and resources sector.
The most recent analyst rating on (AU:EMA) stock is a Hold with a A$0.04 price target. To see the full list of analyst forecasts on Equinox Resources Limited stock, see the AU:EMA Stock Forecast page.
More about Equinox Resources Limited
Eminence Minerals Limited is an ASX-listed resources company focused on mineral exploration and development. The company holds a portfolio of assets and is concentrating its strategy on advancing core projects, while selectively monetising non-core holdings to strengthen its balance sheet and maintain exposure to key commodities such as antimony through equity positions.
Average Trading Volume: 108,741
Technical Sentiment Signal: Sell
Current Market Cap: A$6.69M
For an in-depth examination of EMA stock, go to TipRanks’ Overview page.