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Triton Minerals Limited ( (AU:TON) ) has shared an announcement.
Triton Minerals has progressed the staged divestment of 70% of its Mozambique graphite assets to NQM Gold 2 Pty Ltd, executing a Shareholders’ Cooperation Deed that sets the governance and operational framework for the joint venture and moves the transaction closer to completion, with the company retaining a 30% stake in the Ancuabe project and having received about $11.5 million to date. The company also completed a maiden drilling campaign at its Aucu Gold–Copper Project in Mozambique, undertook initial fieldwork and sampling, streamlined its share register through an unmarketable parcel sale facility, allowed a large tranche of options to lapse, and ended the quarter debt-free with $4.9 million in cash, underscoring a strategic pivot to monetising graphite assets while advancing early-stage gold-copper exploration.
The most recent analyst rating on (AU:TON) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Triton Minerals Limited stock, see the AU:TON Stock Forecast page.
More about Triton Minerals Limited
Triton Minerals Limited is an ASX-listed resources company focused on graphite and precious/base metals projects in Mozambique, including the Ancuabe Graphite Project and the Aucu Gold–Copper Project, positioning itself within the battery minerals and broader mining sector.
Average Trading Volume: 1,166,336
Technical Sentiment Signal: Sell
Current Market Cap: A$15.68M
Learn more about TON stock on TipRanks’ Stock Analysis page.