ASX:SNM

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

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%.

ASX:CMMASX:SNM

Asia55d ago

Capricorn Metals Agrees to Sell Nevada Project to Sentinel Metals for Up to AU$26 Million

Capricorn Metals (ASX:CMM) agreed to sell the Big Springs project in Nevada to Sentinel Metals (ASX:SNM) for up to AU$26 million, according to a Thursday filing with the Australian bourse.Consideration includes AU$8.5 million in cash, AU$5 million worth of shares in Sentinel, and AU$12.5 million in contingent consideration payable upon achieving certain milestones, the filing said.The divestment is subject to certain conditions precedent, including Sentinel raising at least AU$15 million in new funds and securing shareholder approval for the transaction and capital raise, per the filing.

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