Aldoro Resources (ASX:ARN) will divest the Western Australia-based Niobe lithium-rubidium-tantalum project and the Narndee igneous complex project, as well as the EPL 7895 tenement in Namibia, to Sultan Resources (ASX:SLZ), and the Wyemandoo lithium-rubidium-tungsten project, also in Western Australia, to Coppermoly (ASX:COY), according to a Wednesday Australian bourse filing.

The firm is making the divestments to focus on its Kameelburg niobium-rare earth elements carbonatite project, also in Namibia.

It entered into a sale agreement with Sultan Resources, under which the firm agreed to sell 100% of its interest in the Niobe project, the Narndee project, and EPL 7895 to Sultan. Aldoro will sell 100% of the issued capital in Gunex, which holds the Narndee project, to Sultan.

The consideration will consist of a AU$50,000 cash deposit, deferred cash payments of AU$1.5 million, and 286.4 million Sultan shares, which are to be distributed to Aldoro shareholders on a one-for-one basis and with the balance to be retained by Aldoro.

Sultan will make a deferred payment of AU$750,000 upon achievement of a mineral resource estimate of at least 25 million tonnes at an average grade equal to or greater than 0.8% of nickel from the projects, as well as another AU$750,000 deferred payment upon a decision to mine being made at any of the projects, each within 36 months following completion.

Aldoro also entered into a sale agreement with Coppermoly to sell 100% of its stake in the Wyemdandoo project via the sale of its directly held interest in the project, as well as Altilium Metals, which holds the remaining interest in the project. Coppermoly agreed to pay AU$100,000 in cash to Aldoro.

The sale agreements are subject to standard conditions precedent, including due diligence as well as regulatory and third-party approvals. The Coppermoly sale agreement is subject to the disposal of Gunex under the Sultan sale agreement.

The Sultan sale agreement is also subject to Sultan's shareholders approving the allotment and issue of the consideration shares to Aldoro, and Aldoro shareholders approving the in-specie distribution of these consideration shares.