Orbminco Completes Sale of Mt Venn Project to Focus on Advanced Exploration

The latest update is out from Woomera Mining Ltd. ( (AU:OB1) ).

Orbminco Limited has completed the sale of its 80% interest in the Mt Venn Gold Project to Sarama Resources Ltd, receiving 12,000,000 ASX listed Chess Depository Instruments as final consideration. This divestment aligns with Orbminco’s strategy to concentrate on more advanced exploration projects, such as the Majestic North Gold Project in the West Australian Eastern Goldfields, enhancing their focus on core assets.

More about Woomera Mining Ltd.

Orbminco Limited is a focused mineral explorer engaged in the exploration of copper and gold in Mongolia, as well as battery metals like lithium, nickel, copper, and platinum group elements (PGE’s), along with gold in the Yilgarn Cratons of Western Australia.

Technical Sentiment Signal: Hold

Current Market Cap: A$3.4M

For a thorough assessment of OB1 stock, go to TipRanks’ Stock Analysis page.