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Iltani Resources Ltd. ( (AU:ILT) ) has issued an update.
Iltani Resources has agreed to sell two non-core exploration tenements in Tasmania, EL6/2024 and EL33/2022, to G11 Resources Limited for $150,000 in cash. Management says the proceeds will be redirected into business development and the pursuit of new precious and base metal assets that complement the company’s growing Northern Queensland portfolio, indicating a continued strategic focus on higher-priority projects such as the Orient and Herberton assets and a more disciplined capital allocation approach for shareholders.
More about Iltani Resources Ltd.
Iltani Resources Ltd (ASX: ILT) is an Australian-listed explorer and developer focused on precious and base metal projects, including silver and critical minerals. The company has assembled a portfolio of assets in Northern Queensland, highlighted by the Orient Silver-Indium Project, which hosts a JORC-compliant mineral resource of 34.2Mt at 110 g/t silver equivalent, and is advancing this project toward production while accelerating exploration at its Herberton Project. Iltani aims to further expand its portfolio through acquisitions and applications targeting Australian precious and base metal assets with strong value-creation potential.
Average Trading Volume: 235,591
Technical Sentiment Signal: Buy
See more data about ILT stock on TipRanks’ Stock Analysis page.