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Armada Metals Ltd. ( (AU:RCM) ) has issued an announcement.
Rapid Critical Metals Limited, an ASX-listed company, has announced the sale of its Tin Mountain property in South Dakota, USA, to a subsidiary of Iris Metals Limited. The transaction involves the transfer of 93 federal mining claims covering 752 hectares, with the consideration including a share issuance of US$550,000 in Iris Metals shares, a US$300,000 cash payment to the original claim vendor F3 Gold LLC, and a 2% gross revenue royalty on future production. This strategic move allows Rapid Critical Metals to streamline its operations, while Iris Metals gains a cost-effective opportunity to advance exploration efforts in the region.
More about Armada Metals Ltd.
Technical Sentiment Signal: Sell
Current Market Cap: A$2.83M
Find detailed analytics on RCM stock on TipRanks’ Stock Analysis page.