Albright Metals (ASX:ABR) has closed the sale of a portion of its Bryah Basin tenements to Catalyst Metals (ASX:CYL) for AU$1 million in cash and 105,387 Catalyst Metals shares, according to a Friday filing with the Australian bourse.
Proceeds from the sale of these non-core assets are intended to strengthen its flagship Golden Pike project in New Brunswick, Canada, which has high potential for gold, antimony, and base metals exploration.
Shares of Catalyst Metals fell 7% in recent trading.
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