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Capricorn Metals Completes US Gold Project Divestment to Sentinel Metals for AU$13.7 Million Upfront

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Capricorn Metals (ASX:CMM) completed the divestment of its Big Springs gold project in the US to Sentinel Metals (ASX:SNM), according to a Wednesday Australian bourse filing.

The company received an upfront consideration of AU$13.7 million, comprising an AU$8.5 million cash payment and a 6.2% shareholding in Sentinel worth AU$5.2 million.

The company said it will also receive a further AU$12.5 million in deferred payments.

Capricorn Metals' shares rose 1% in recent Wednesday trade, while Sentinel Metals fell 1%.

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