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Sable Resources ( (TSE:SAE) ) has shared an announcement.
Sable Resources Ltd. has entered into a binding letter agreement with Moxico Resources plc, granting Moxico an exclusive option to acquire a 51% stake in Sable’s El Fierro Project and Cerro Negro Property in Argentina. This agreement outlines specific exploration and expenditure commitments by Moxico over a five to six-year period, with the potential to increase their stake to 70% upon completing a feasibility study. The collaboration is expected to enhance Sable’s exploration capabilities and aligns with Moxico’s expansion plans in the Americas, potentially impacting the company’s operational and industry positioning positively.
More about Sable Resources
Sable Resources Ltd. is a company operating in the mining industry, focusing on the exploration and development of mineral properties. Its primary market focus is on large-scale porphyry copper-gold-molybdenum deposits in Argentina.
YTD Price Performance: 10.0%
Average Trading Volume: 42,590
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $6M
See more insights into SAE stock on TipRanks’ Stock Analysis page.