Capricorn Metals Agrees to Sell Nevada Project to Sentinel Metals for Up to AU$26 Million
MT Newswires Live
Jul 02
Capricorn Metals (ASX:CMM) agreed to sell the Big Springs project in Nevada to Sentinel Metals (ASX:SNM) for up to AU$26 million, according to a Thursday filing with the Australian bourse.
Consideration includes AU$8.5 million in cash, AU$5 million worth of shares in Sentinel, and AU$12.5 million in contingent consideration payable upon achieving certain milestones, the filing said.
The divestment is subject to certain conditions precedent, including Sentinel raising at least AU$15 million in new funds and securing shareholder approval for the transaction and capital raise, per the filing.
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