Andromeda Metals Limited (AU:ADN) has released an update.
Andromeda Metals Limited has successfully completed the sale of its 25% interest in the Wudinna Gold Project to Lady Alice Mines Pty Ltd, receiving $500,000 in cash and $1,000,000 worth of Cobra Resources Plc shares. The shares are held in escrow, with release conditions tied to the transfer of tenement ownership or a 12-month period, followed by an additional 12 months of orderly market provisions. This strategic move bolsters Andromeda’s financial position and aligns with its broader asset management strategy.
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