PERTH (miningweekly.com) – Junior Caeneus Minerals has sold its Wee MacGregor copper project, in Queensland, to a subsidiary of fellow-listed Cape Lambert.
Under the terms of the agreement with Mining International, Caeneus would divest of the Wee MacGregor project for A$50 000, which would be payable on the signing of a sales and purchase agreement.
The junior told shareholders that the disposal of the Wee MacGregor asset was part of the company’s ongoing strategy of rationalising its less prospective noncore assets to help reduce administrative costs and to accelerate further exploration at its core assets, which include the Mt Davis and the Super Nova projects.