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ASX:FLG

5 stories mentioning ASX:FLGUpdated 13d ago

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Asia

Flagship Minerals Receives Full Consideration for Sale of Thailand Lithium Project; Shares Down 3%

Flagship Minerals (ASX:FLG) received the full $8 million cash consideration for the sale of its RK lithium project in southern Thailand to a local syndicate led by privately held Pendulum Auto Co., according to a Tuesday filing with the Australian bourse.The company is also in discussions for the sale of its Khao Soon tungsten project in Thailand as part of its transition to a gold and copper explorer.Flagship Minerals shares fell 3% in recent Tuesday trade.

ASX:FLG
Asia

Flagship Minerals Completes Metallurgical Drilling, Trenching Program at Chile Gold Project

Flagship Minerals Limited (ASX:FLG) completed its metallurgical drilling and trenching program at its Isidora gold project in Chile, according to a Monday Australian bourse filing.The program consisted of four large-diameter metallurgical drill holes for a total of 600.5 meters, as well as five trenches totalling 600 meters. Drilling and trenching intersected numerous zones of visually apparent mineralization.It began a mineral resource estimate infill and extension drilling within the project's pit shell, per the filing.

ASX:FLG
Asia

Flagship Minerals Sells Thailand Lithium Project for AU$5.8 Million in Cash; Shares Gain 3%

Flagship Minerals (ASX:FLG) struck a deal to sell its RK lithium project in southern Thailand to a local syndicate for around AU$5.8 million in cash, according to a Thursday filing with the Australian bourse.The company said it will receive around 50% of the consideration within the week, adding that the syndicate is led by privately held Pendulum Auto Co.Flagship is also in talks for the sale of its Khao Soon tungsten project in Thailand as part of its transition to a gold and copper explorer, per the filing.The company's shares gained 3% in recent Thursday trade.

ASX:FLG
Asia

Flagship Minerals to Acquire Copper Project in Canada; Shares Rise 6%

Flagship Minerals (ASX:FLG) struck a deal to acquire the Whipsaw copper project in British Columbia, Canada, to boost its exposure to the metal amid "increasingly scarce" large-scale copper development opportunities, according to a Thursday filing with the Australian bourse.The Whipsaw exploration target consists of between 510 million tonnes and 1.02 billion tonnes at 0.2% to 0.4% copper equivalent, per the filing. The exploration target remains open with potential for expansion.The company said it is considering a possible spin-out of Whipsaw into a standalone ASX-listed copper vehicle. Such a move would be subject to a legal review in addition to shareholder and regulatory approvals.Flagship Minerals shares rose 6% in recent Thursday trade.

ASX:FLG
Asia

Flagship Minerals Raises Nearly AU$3 Million in Strategic Two-Tranche Placement

Flagship Minerals (ASX:FLG) has secured firm commitments to raise around AU$2.8 million via a two-tranche strategic placement, issuing 11 million new fully paid ordinary shares at AU$0.25 each, according to a Wednesday filing with the Australian bourse.The raising comprises AU$2.3 million from professional and sophisticated investors through 9 million shares, and AU$500,000 from Xinhai, its strategic engineering, procurement, and construction partner, through 2 million shares, subject to shareholder approval, per the filing.Tranche one is expected to settle and begin normal trading by May 29, while tranche two is expected to follow on June 29, the filing said.The funds will be used to support the advancement of feasibility studies, technical programs, and general working capital requirements, the filing added.The company's shares fell 2% in recent Wednesday trade.

ASX:FLG

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