AIC Mines and Rumble Divest Lamil Project to Aventine Resources
AIC Mines Limited (ASX: A1M), alongside joint venture partner Rumble Resources, has agreed to sell the Lamil Project in Western Australia to Aventine Resources Limited under a Tenement Sale Agreement. The transaction covers a 100% interest in Exploration Licence E45/5271, with total consideration comprising AU$500,000 in cash, Aventine shares valued at AU$600,000, and a combined 1% net smelter return royalty.
Under the agreement, AIC Mines will receive AU$250,000 in cash, Aventine shares worth AU$300,000, and a 0.5% royalty interest. The transaction is expected to be finalised once customary requirements are met, including heritage-related approvals and regulatory clearances associated with Aventine’s proposed ASX debut.
The divestment aligns with AIC Mines’ strategy of prioritising core growth projects while monetising non-core exploration assets. Aventine intends to integrate the Lamil Project into its expanding Paterson Province portfolio, targeting further gold and copper exploration opportunities in the region.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au
x
Daily Dose of Buy, Sell & Hold recommendations before the market opens.
Start Your 7 Days Free Trial Now!
We use cookies to help us improve, promote, and protect our services.
By continuing to use this site, we assume you consent to this.
Read our
Privacy Policy
and
Terms & Conditions
AIC Mines and Rumble Divest Lamil Project to Aventine Resources
AIC Mines Limited (ASX: A1M), alongside joint venture partner Rumble Resources, has agreed to sell the Lamil Project in Western Australia to Aventine Resources Limited under a Tenement Sale Agreement. The transaction covers a 100% interest in Exploration Licence E45/5271, with total consideration comprising AU$500,000 in cash, Aventine shares valued at AU$600,000, and a combined 1% net smelter return royalty.
Under the agreement, AIC Mines will receive AU$250,000 in cash, Aventine shares worth AU$300,000, and a 0.5% royalty interest. The transaction is expected to be finalised once customary requirements are met, including heritage-related approvals and regulatory clearances associated with Aventine’s proposed ASX debut.
The divestment aligns with AIC Mines’ strategy of prioritising core growth projects while monetising non-core exploration assets. Aventine intends to integrate the Lamil Project into its expanding Paterson Province portfolio, targeting further gold and copper exploration opportunities in the region.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au