Hammer Metals Limited (AU:HMX) has released an update.
Hammer Metals Limited has announced robust advancements in its mining projects, including the initial sale of a 51% stake in the Mount Hope sub-blocks to Carnaby Resources, and the formation of new joint ventures with Sumitomo Metal Mining Oceania and South32. The company also reported a new gold resource of 54.5koz at its Yandal Project and has several drilling programs underway, suggesting a promising outlook for resource expansion and exploration. Additionally, Hammer Metals maintains a healthy cash balance after recent transactions, including a $1.25 million R&D tax refund.
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