Viking Mines Divests Non-Core Gold Asset to Accelerate Linka Tungsten Development
Viking Mines Limited (ASX: VKA) has entered into a binding agreement to sell its non-core First Hit Gold Project in Western Australia's Eastern Goldfields to First Au Limited (ASX: FAU) for a total potential consideration of up to AU$5.0 million. The transaction includes AU$1.2 million in cash, AU$1.0 million in FirstAu shares on completion, and up to AU$2.8 million in performance-linked consideration tied to future drilling and mineral resource milestones. This structure enables Viking to retain exposure to any exploration success while transferring future exploration costs to FirstAu, which has also committed to spend at least AU$500,000 on drilling within the first year following completion.
The divestment strengthens Viking's financial position and reinforces its strategy of becoming a focused critical minerals developer centred on the Linka Tungsten Project in Nevada, USA. Capital released from the transaction will support the company's fully permitted 63-hole maiden reverse circulation drilling campaign, expected to commence shortly. By monetising a non-core gold asset while maintaining upside through equity and milestone payments, Viking is improving funding flexibility and concentrating management efforts on advancing its flagship tungsten project in a market benefiting from increasing demand for secure, non-Chinese supply chains.
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
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Viking Mines Divests Non-Core Gold Asset to Accelerate Linka Tungsten Development
Viking Mines Limited (ASX: VKA) has entered into a binding agreement to sell its non-core First Hit Gold Project in Western Australia's Eastern Goldfields to First Au Limited (ASX: FAU) for a total potential consideration of up to AU$5.0 million. The transaction includes AU$1.2 million in cash, AU$1.0 million in FirstAu shares on completion, and up to AU$2.8 million in performance-linked consideration tied to future drilling and mineral resource milestones. This structure enables Viking to retain exposure to any exploration success while transferring future exploration costs to FirstAu, which has also committed to spend at least AU$500,000 on drilling within the first year following completion.
The divestment strengthens Viking's financial position and reinforces its strategy of becoming a focused critical minerals developer centred on the Linka Tungsten Project in Nevada, USA. Capital released from the transaction will support the company's fully permitted 63-hole maiden reverse circulation drilling campaign, expected to commence shortly. By monetising a non-core gold asset while maintaining upside through equity and milestone payments, Viking is improving funding flexibility and concentrating management efforts on advancing its flagship tungsten project in a market benefiting from increasing demand for secure, non-Chinese supply chains.
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