Mantle Minerals Limited (ASX: MTL) has signed a binding agreement to sell its wholly-owned subsidiary, Mt Roe Mining Pty Ltd, to Northern Star Resources for AU$13.5 million in cash. The deal includes five tenements near the Hemi gold discovery in Western Australia and is expected to complete by 12 September 2025, subject to due diligence and regulatory approvals. Mantle will retain its core Yule River and Pardoo Projects, focusing on advanced exploration and development activities.
Proceeds from the sale will accelerate exploration at both Yule River and Pardoo, including geophysical studies and drilling programs. The company also plans to evaluate new acquisition opportunities in Tier 1 jurisdictions. Additionally, Mantle has secured AU$250,000 in funding through a placement of 250 million shares, with each share carrying one unlisted option. This strategic transaction positions Mantle to unlock shareholder value and pursue growth across its remaining assets.
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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.