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Kingfisher Mining Ltd. ( (AU:KFM) ) has shared an announcement.
Austin Metals Limited has entered into a binding agreement to sell its Broken Hill tenement package in New South Wales to Kingfisher Mining Ltd. This strategic divestment allows Austin to concentrate on its core Western Australian gold assets while maintaining potential future upside through an equity interest in Kingfisher. The transaction, valued at $400,000, comprises cash and shares and is subject to customary closing conditions, including regulatory and shareholder approvals.
More about Kingfisher Mining Ltd.
Austin Metals Limited (AYT) is a gold and precious metals explorer focused on the prolific mining districts of Western Australia. Its flagship project is the Austin Gold Project located in the Murchison greenstone province, adjacent to the Cue Gold Project owned by Musgrave Minerals Limited. The company also holds the Ashburton Copper-Gold Project in the Ashburton region of Western Australia.
Average Trading Volume: 74,706
Technical Sentiment Signal: Sell
Current Market Cap: A$2.52M
Find detailed analytics on KFM stock on TipRanks’ Stock Analysis page.