Austin Metals sells NSW package to Kingfisher
Exploration junior Austin Metals announced on Friday that it would sell its Broken Hill tenement package in New South Wales to fellow ASX-listed Kingfisher Mining for A$400 000 in cash and shares.
The divestment, Austin said, enabled it to focus its resources on advancing its core Western Australian gold assets.
The company noted that it would retain exposure to potential future upside through its equity interest in Kingfisher.
The transaction is expected to be completed in the near term, subject to the satisfaction of customary closing conditions.
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