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Austin Metals Limited ( (AU:AYT) ) has issued an update.
Austin Metals Limited has announced a strategic divestment of its Broken Hill tenement package to Kingfisher Mining Ltd for $400,000, allowing the company to focus on its Western Australian gold assets while retaining potential upside through equity in Kingfisher. Additionally, recent drilling at the Mt Sandy prospect revealed significant shallow gold intercepts, indicating a substantial gold system and extending the mineralisation strike to approximately 1km, with further exploration planned to expand high-grade zones and test new trends.
More about Austin Metals Limited
Austin Metals Limited operates in the mining industry, focusing on gold exploration and development primarily in Western Australia. The company is streamlining its portfolio to concentrate on its core gold assets.
Technical Sentiment Signal: Sell
Current Market Cap: A$6.34M
For a thorough assessment of AYT stock, go to TipRanks’ Stock Analysis page.