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Resources & Energy Group Limited ( (AU:REZ) ) has provided an update.
Resources & Energy Group Limited has announced the completion of due diligence for the sale of its Mount Mackenzie Gold Project in Queensland to QMines Limited for $2.485 million. This transaction, which includes $1 million in cash and 33 million shares in QMines, strengthens REZ’s balance sheet and aligns with its strategic focus on the East Menzies Gold Project in Western Australia. The sale allows REZ to concentrate on scaling operations at East Menzies while maintaining exposure to potential future gains from Mount Mackenzie through its QMines shareholding.
More about Resources & Energy Group Limited
Resources & Energy Group Limited (ASX: REZ) is an ASX-listed gold explorer and miner, focused on unlocking the full potential of the East Menzies Gold Project in Western Australia. The Company is committed to advancing cost-effective gold extraction through innovative processing methods, such as vat leaching while exploring additional high-grade gold deposits within its extensive tenement package.
Average Trading Volume: 496,260
Technical Sentiment Signal: Sell
Current Market Cap: A$10.07M
See more insights into REZ stock on TipRanks’ Stock Analysis page.