Moho Resources Secures $4M from East Sampson Sale, Raises $673k in Placement
Moho Resources has completed the sale of its East Sampson Gold Project for up to $4 million and raised $673,000 through a share placement, marking a strategic pivot to optimise its portfolio and fund exploration.
- Sale of East Sampson Gold Project completed for up to $4 million
- Received $1 million upfront with $3 million deferred on gold production milestones
- Raised $673,000 via share placement plus $120,000 pending shareholder approval
- Extended option period for Hodges Gold Project to July 2025
- Planning aircore drilling at Hodges and assessing geophysical surveys at Weld Range North
Strategic Divestment Unlocks Value
Moho Resources Limited (ASX: MOH) has taken a decisive step in reshaping its asset portfolio by completing the sale of the East Sampson Gold Project to Mineral Mining Services Pty Ltd for a total consideration of up to $4 million. This transaction, announced in January 2025, includes an initial $1 million completion payment with the remaining $3 million contingent on gold production milestones, aligning Moho’s upside with the project's operational success.
The East Sampson project, boasting an interim Mineral Resource Estimate of 21,600 ounces of gold at 2.5 grams per tonne, was a high-grade asset that Moho has now monetised to focus on other strategic opportunities. The milestone-linked deferred payments provide Moho with a risk-mitigated exposure to future production upside without incurring further capital expenditure.
Capital Raising to Support Growth
Alongside the divestment, Moho successfully raised $673,000 through a share placement at $0.005 per share, attracting institutional and sophisticated investors. The Board has also committed to an additional $120,000 placement, subject to shareholder approval at the upcoming General Meeting. This capital injection strengthens Moho’s balance sheet, providing liquidity to advance exploration and evaluation activities across its portfolio.
Exploration Focus and Project Development
Moho is actively progressing its exploration pipeline, notably extending the option period for the Hodges Gold Project to July 2025. The company plans an aircore drilling program in the second half of FY25 to test gold targets identified through soil geochemistry, aiming to unlock new resource potential.
Meanwhile, at the Weld Range North Project, Moho is evaluating the application of geophysical surveys to better understand the underlying geology and support future exploration efforts. This project sits within the Youanmi Terrain, a region known for its complex Archean greenstone belts and significant mineralisation potential.
Portfolio Optimization and Corporate Discipline
In line with its strategic review, Moho has relinquished interests in several tenements that no longer align with its objectives, focusing resources on higher-potential assets. The company’s disciplined approach to portfolio management aims to maximise shareholder value while maintaining a prudent cash position, with $1.28 million in cash and equivalents reported at quarter-end.
Moho’s management team, led by Chairman Peter Christie, continues to balance exploration ambition with financial prudence, leveraging partnerships and milestone-based agreements to mitigate risk.
Bottom Line?
Moho’s strategic divestment and capital raise set the stage for focused exploration growth, but future value hinges on successful milestone achievements and drilling results.
Questions in the middle?
- How quickly will Mineral Mining Services progress gold production at East Sampson to trigger deferred payments?
- What are the expected timelines and targets for the upcoming aircore drilling at Hodges Gold Project?
- How will Moho prioritise its remaining tenements amid ongoing portfolio optimisation?
