Western Mines Group Ends 1% Royalty with Share Buyback

Western Mines Group Ltd (AU:WMG) has released an update.

Western Mines Group Ltd has announced a significant move to enhance its financial standing by extinguishing a 1% net smelter return royalty over its E39/2132 tenement. The company has executed a Royalty Extinguishment Deed, compensating the original vendor with 800,000 fully paid ordinary shares, half of which will be escrowed for 12 months. This strategic decision aims to bolster the company’s asset control, potentially increasing its appeal to investors.

For further insights into AU:WMG stock, check out TipRanks’ Stock Analysis page.