Aldoro Resources Conducts Strategic Review of Assets; Shares Fall Over 7%

MT Newswires Live

05-26

Aldoro Resources (ASX:ARN) said its board decided to conduct a strategic review of its asset portfolio after the firm received interest in its non-core exploration portfolio, according to a Monday Australian bourse filing.

The firm will consider the potential sale of all or some of the portfolio or other capital initiatives that will benefit shareholders, per the filing.

The Niobe lithium-rubidium-tantalum project, the Wyemandoo lithium-rubidium-tungsten project, and the Narndee nickel-gold project, all located in Western Australia, are the projects under review. The firm's 85% stake in the EPL 7895 gold project is also under review.

The expressions of interest the firm received will be considered as part of the strategic review.

The firm added that the Kameelburg niobium-rare earth element carbonatite project in Namibia is the primary focus of the firm and is not being considered for divestment.

Aldoro Resources' shares were down over 7% in recent trading on Monday.

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