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An update from Red Hill Iron Limited ( (AU:RHI) ) is now available.
Red Hill Minerals Limited has announced its acquisition of a 2% Gross Revenue Royalty over the Sandstone Gold Project tenements, which are part of Brightstar Resources Limited’s project. This strategic purchase aligns with Red Hill’s goal to diversify its royalty portfolio. The Sandstone Gold Project covers approximately 443 km2 and contains significant mineral resources, with Brightstar planning an extensive exploration program. The acquisition involves a $4 million cash payment and additional contingent payments based on future production royalties. This move is expected to enhance Red Hill’s market position and stakeholder value by tapping into the potential of the Sandstone Gold Project.
More about Red Hill Iron Limited
Red Hill Minerals Limited is a company focused on building a diversified commodity royalty portfolio. Its primary activities involve acquiring royalties over various mining projects, with a focus on expanding its interests across different commodities and projects.
YTD Price Performance: -19.22%
Average Trading Volume: 20,291
Technical Sentiment Signal: Hold
Current Market Cap: A$212.9M
See more data about RHI stock on TipRanks’ Stock Analysis page.