GBM Resources (ASX:GBZ) executed a binding agreement for the sale of its Mt Morgan Gold-Copper Project in Queensland to Lithium Energy (ASX:LEL), according to a Thursday filing with the Australian bourse.
The deal, which also includes additional tenements from Canada-based operator of gold and copper projects Great Southern Gold, is valued at AU$2 million in cash, payable over two years, along with up to AU$1.7 million in contingent payments tied to exploration and economic milestones, the filing said.
Additionally, the agreement includes a 1.3% NSR royalty with a partial buyback option. Lithium Energy will also invest AU$4 million in exploration over two years, the filing added.
GBM will now turn its focus to its Drummond Basin gold assets while retaining exposure to Mt Morgan through royalties and contingent payments.
Shares of the company rose past 14% in recent Thursday trade, earlier hitting an all-time low.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。