Investigator Resources' (ASX:IVR) unit Gawler Resources completed the sale of its 49% joint venture interest and adjacent tenement in the Stuart Shelf, South Australia to Pernatty, according to a Tuesday filing with the Australian bourse.
Pernatty is a subsidiary of Discover, a joint venture partner in the Stuart Shelf.
The sale, which was finalized earlier this week, will see Investigator receive a cash payment of AU$1 million before the end of the year, the filing said.
In addition to the cash, Investigator Resources will retain future royalties from the project, the filing added.
Shares of the company rose nearly 6% in recent Tuesday trade.
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