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Metal Bank Limited ( (AU:MBK) ) just unveiled an announcement.
Hastings Technology Metals Ltd has signed a non-binding term sheet with Metal Bank Limited for the sale of its Western Australian gold assets, valued at A$2,300,000. This strategic divestment allows Hastings to concentrate on its Yangibana Rare Earths Project while providing shareholders with exposure to MBK’s gold projects through an in-specie distribution of shares. The transaction will see Hastings’ COO, Tim Gilbert, become MBK’s CEO, enhancing MBK’s management team and advancing the Whiteheads and Livingstone gold projects.
More about Metal Bank Limited
Metal Bank Limited (ASX:MBK) is a junior miner focused on gold, copper, and cobalt assets in Western Australia and Queensland. Its primary gold project is the Livingstone Project located in the Murchison, WA.
Average Trading Volume: 285,682
Technical Sentiment Signal: Hold
Current Market Cap: A$7.46M
See more insights into MBK stock on TipRanks’ Stock Analysis page.