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Ozz Resources Ltd ( (AU:OZZ) ) has provided an announcement.
Ozz Resources has signed a binding option agreement granting Scorpion Minerals an exclusive right to acquire 100% of its Maguires Reward project, in a transaction that would amount to the disposal of Ozz’s main undertaking and therefore requires shareholder approval under ASX rules. The deal delivers an immediate option fee of $100,000 and a further $2.5 million in cash or Scorpion shares upon conditions being met and the option exercised by December 2026, which the board views as providing attractive post-tax value for shareholders, while on-ground exploration at the company’s Mt Davis and Pepper Tree projects near Leonora was minimal during the quarter, with some tenure voluntarily surrendered at Pepper Tree.
The most recent analyst rating on (AU:OZZ) stock is a Sell with a A$0.05 price target. To see the full list of analyst forecasts on Ozz Resources Ltd stock, see the AU:OZZ Stock Forecast page.
More about Ozz Resources Ltd
Ozz Resources Ltd is an Australian exploration company focused on gold projects in the Leonora region of Western Australia, including the Mt Davis and Pepper Tree (formerly Pinnacle Well) projects. Its activities centre on early-stage exploration such as soil sampling, litho-geochemical review and target generation along key shear zones and greenstone-sedimentary rock contacts near major transport corridors in the Goldfields region.
Technical Sentiment Signal: Sell
See more insights into OZZ stock on TipRanks’ Stock Analysis page.