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Gold Mountain Limited ( (AU:GMN) ) has shared an announcement.
Gold Mountain Limited has signed a binding agreement to sell its Papua New Guinea exploration licences to Golden Crane Mining Limited, an unrelated party, for $2 million, structured through a refundable-in-part deposit, a further payment following due diligence and the balance at completion. The transaction, which is subject to customary conditions including due diligence and third-party approvals within a set timeline, will allow Gold Mountain to redeploy capital into its Brazilian exploration projects and support working capital, reinforcing the company’s strategic shift toward its growing rare earth, niobium, lithium, and base metals portfolio in Brazil.
The most recent analyst rating on (AU:GMN) stock is a Hold with a A$0.07 price target. To see the full list of analyst forecasts on Gold Mountain Limited stock, see the AU:GMN Stock Forecast page.
More about Gold Mountain Limited
Gold Mountain Limited (ASX:GMN) is a mineral exploration company focused on rare earth elements and niobium, with an expanding portfolio of highly prospective licences in Brazil, particularly in Bahia and Minas Gerais. The company is also advancing exploration across a diverse range of tenements targeting lithium in Brazil’s eastern lithium belt, as well as copper, copper-nickel, and gold projects in northeastern Brazil and previously in Papua New Guinea.
Average Trading Volume: 101,189
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$11.73M
For detailed information about GMN stock, go to TipRanks’ Stock Analysis page.