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Gold Mountain Limited ( (AU:GMN) ) has issued an announcement.
Gold Mountain Limited has acquired Mars Mines Limited’s 25% free-carried interest in the Brazil Joint Venture, issuing 9,158,445 new shares as consideration and taking its ownership of the venture to 100%. The move consolidates full strategic control over its Brazilian assets, simplifying the corporate structure, improving decision-making and capital allocation, and ensuring that any future exploration success in the joint venture area will accrue entirely to Gold Mountain shareholders, strengthening the company’s asset base and aligning with its strategy to build a focused and scalable exploration platform in Brazil.
More about Gold Mountain Limited
Gold Mountain Limited is an ASX-listed mineral exploration company focused primarily on rare earth elements and niobium, with a growing portfolio of projects in Brazil and Papua New Guinea. In Brazil, the company holds extensive REE and REE-niobium licences in Bahia and Minas Gerais, along with lithium tenements in the eastern Brazilian lithium belt and additional copper and copper-nickel prospects in the northeast of the country. In Papua New Guinea, Gold Mountain is advancing the Green River Project, a large-scale exploration area that has returned promising high-grade copper-gold and lead-zinc float samples and evidence of porphyry-style mineralisation.
Average Trading Volume: 116,224
Technical Sentiment Signal: Sell
Current Market Cap: A$13.19M
See more data about GMN stock on TipRanks’ Stock Analysis page.