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Golden Mile Resources Ltd. ( (AU:G88) ) has provided an update.
Golden Mile Resources Ltd has agreed to sell its remaining 20% interest in the Leonora Gold Joint Venture in Western Australia to Navigator Mining Pty Ltd, a subsidiary of Patronus Resources, for A$250,000 in cash. Completion is expected next week, subject to regulatory approvals and other customary conditions, marking Golden Mile’s full exit from the Leonora Gold project after Navigator met prior expenditure requirements to earn its initial 80% stake.
The disposal simplifies Golden Mile’s asset base and releases cash that can be redeployed into its broader multi-asset exploration and development strategy. For Navigator and Patronus, consolidating 100% of the Leonora Gold JV could streamline project planning and operations in the Eastern Goldfields, with potential implications for future exploration and development activity in the region.
More about Golden Mile Resources Ltd.
Golden Mile Resources Ltd is an ASX-listed project development and mineral exploration company pursuing a multi-asset, multi-commodity growth strategy. The company focuses on advancing core projects, acquiring high-quality assets and forming tactical alliances with joint venture partners to expand its resource portfolio.
Technical Sentiment Signal: Sell
Current Market Cap: A$4.48M
For a thorough assessment of G88 stock, go to TipRanks’ Stock Analysis page.