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Watershed changes hands

10th August 2018

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – ASX-listed Vital Metals’ A$15-million sale of its Watershed tungsten project, in Queensland, has been completed.

The company in May this year struck a deal with fellow-listed Tungsten Mining to divest of the asset.

“The sale of Watershed has put Vital in a strong financial position to enable us to drill a lot more ground at Bouli, where we are continuing to deliver impressive high-grade gold results,” said Vital MD Mark Strizek.

Vital will use a portion of the proceeds to repay A$1.4-million to Macquarie, making the company debt free. The remainder of the funds will be used on the exploration programme in West Africa.

Edited by Creamer Media Reporter

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