Gateway Mining Limited (AU:GML) has released an update.
Gateway Mining Limited has strategically sold its gold rights in the Eastern Montague Gold Project to Brightstar Resources for $14 million, comprising a mix of cash and shares, with future payments tied to performance milestones. This deal not only bolsters Gateway’s cash reserves and liquidity but also allows the company to concentrate on its promising Cu-Ni-PGE exploration while maintaining exposure to the region’s growth through a significant stake in Brightstar. Shareholders will benefit from continued involvement in the value-driven exploration of the broader tenement group, including a recent nickel-copper sulphide discovery.
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