NewPeak sells Finland, NZ gold assets as it switches to battery metals

19th February 2024

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online


Font size: - +

Australia-based NewPeak Metals has announced the sale of its Finland and New Zealand gold permits as part of the company’s strategic rejuvenation plan to focus on battery and critical metals.

The ASX-listed company on Monday announced a binding term sheet to sell 100% of its interest in its Finnish subsidiary companies to Canco – a Canadian unlisted private company, run by resource entrepreneur Emma Fairhurst.

It is understood that Canco would assign its rights from the private company into a publicly listed Canadian entity by transaction close on March 31.

As consideration for the sale, NewPeak will receive A$150 000 and C$500 000 in cash, C1-million in shares of the listed company and a milestone payment of C$1.5-million in cash or shares.

The sale follows in the footsteps of the sale of the Otago gold permits. On Friday, NewPeak announced it had entered into contractual agreements to sell its remaining 25% interest in its New Zealand gold mineral permits – Garibaldi and Raggedy Range.

NewPeak, together with its partner Neil Stuart (75% interest), has entered into an exploration permit acquisition agreement with Canada-listed KO Gold.

As consideration for the sale, NewPeak will receive C$125 000 in three KO Gold share issue tranches.

NewPeak still holds gold assets in Argentina. The company’s joint venture (JV) partner in the Las Openas gold project has rescinded its termination notice and the parties have elected not to enter into arbitration. Instead, they have agreed new terms to advance the venture, including transferring the Las Openas permit rights to a new JV company in which NewPeak holds 51%. The JV has agreed to sell 100% of the project and has engaged a corporate adviser to manage the sale process.

For the Cachi gold project, a JV company was established to hold the permit and advance the project through this new company. NewPeak (35%) and Tres Cerros Exploraciones (65%) will seek expressions of interest from others to invest in, or sell, the project.

Meanwhile, NewPeak is considering battery and critical metal projects in the Americas and Australia.

Edited by Creamer Media Reporter




Developed to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.


We are dedicated to business excellence and innovation.


Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (12/04/2024)
12th April 2024 By: Martin Creamer

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?







sq:0.289 0.323s - 108pq - 2rq
1: United States
Subscribe Now
2: United States