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The latest announcement is out from Kula Gold Limited ( (AU:KGD) ).
Kula Gold Limited reported strong quarterly progress, highlighted by high-grade gold assay results from extensive RC and diamond drilling at its 80%-owned Mt Palmer Gold Project, reinforcing the project’s exploration potential. The company also completed a maiden drilling program at its 75%-owned Wozi Niobium Project to test a robust niobium soil anomaly, incorporated a wholly owned subsidiary to position the asset for a possible spin-off, and evaluated additional tenure to support potential expansion. During the quarter, Kula divested its 100%-owned Westonia Project to Forrestania Resources for an upfront A$500,000 plus a deferred A$1 million contingent on defining a JORC-compliant resource, while Forrestania’s conditional scrip takeover of Kula progressed to more than 90% ownership post-period, triggering compulsory acquisition of remaining shares and effectively shifting Kula’s control and future direction under Forrestania’s corporate umbrella.
More about Kula Gold Limited
Kula Gold Limited is an Australian minerals exploration company focused primarily on gold, with its flagship Mt Palmer Gold Project and additional interests in niobium at the Wozi Project and various Western Australian tenements. The company operates mainly in Western Australia’s resource sector, targeting high-grade precious and critical metals to enhance its project portfolio and attract strategic investment and corporate transactions.
Average Trading Volume: 4,098,961
Technical Sentiment Signal: Sell
Current Market Cap: A$96.03M
For detailed information about KGD stock, go to TipRanks’ Stock Analysis page.