JOHANNESBURG (miningweekly.com) – Junior miner Mantle Mining has completed its asset disposal programme with the sale of its Norton gold project, near Gladstone, in Queensland, for A$525 000 in cash.
The ASX-listed company earlier this month divested of its noncore Queensland exploration projects for A$400 000.
The sale of noncore assets will allow Mantle to focus its effort and resources on the development of the high-grade Morning Star gold mine and other projects in the Victorian gold fields, CEO Tom de Vries said on Thursday.
In August last year, Mantle announced that Morning Star, east of Melbourne, would be its flagship project and that it was being prioritised over Norton. On Wednesday, Mantle reported that it had made significant progress with returning Morning Star to production. Trial mining is under way at the Stacpoole zone.
The completion of the Norton sales is subject to the company obtaining all necessary regulatory approvals to the transfer of the tenements to the buyer. Mantle did not name the buyer in its release to the ASX.