Aim-listed Strategic Minerals on Monday announced an in-principle agreement to sell its gold tenements in Australia to ASX-listed Great Southern Mining, as it sharpens its focus on battery-related metals.
The tenements are currently owned by Strategic Minerals subsidiary Central Australian Rare Earths (CARE) and will be sold for A$145 000 paid in cash and shares.
CARE’s focus will now be on nickel/cobalt and rare earth exploration, Strategic Minerals MD John Peters said in a statement.
He said the company would soon provide an update on its plans for further drilling around Hanns Camp, notably at Hanns Camp South, which was showing good signs of nickel sulphide prospectivity.