Moho’s Portfolio Shift: Empress Springs Sale Raises Questions on Future Growth
Moho Resources has completed the sale of its Empress Springs Project, securing over $700,000 in cash inflows, while unveiling a significant new gold anomaly at its Silver Swan North Project in Western Australia.
- Sale of Empress Springs Project generates $408,500 upfront and $300,000 deferred
- Discovery of a 4 km gold-in-soil anomaly at Silver Swan North Project
- Silver Swan North lies near established gold operations in Eastern Goldfields
- Moho plans preliminary aircore drilling to test gold anomaly
- Exploration expenditure for the quarter totaled $124,758 with $1.22 million cash on hand
Strategic Divestment Strengthens Financial Position
Moho Resources Limited (ASX, MOH) has successfully completed the sale of its Empress Springs Project in Queensland to Qld Aus Graphite Pty Ltd, receiving $408,500 in cash at completion and securing a further $300,000 deferred payment due in May 2026. This divestment aligns with Moho’s ongoing strategy to streamline its portfolio and focus on assets with near-term growth potential.
The transaction not only provides immediate liquidity but also enhances the company’s financial flexibility as it advances its core exploration projects and evaluates new opportunities. With a cash balance of approximately $1.22 million at quarter-end, Moho is well-positioned to fund its upcoming exploration activities.
New Gold Target Emerges at Silver Swan North
In a notable shift from its historical nickel focus, Moho has identified a significant gold-in-soil anomaly at its 100%-owned Silver Swan North Project, located about 40 kilometers northeast of Kalgoorlie-Boulder in Western Australia’s prolific Eastern Goldfields region. The anomaly extends over 4 kilometers in length and 1 kilometer in width, with a higher-grade core of 1.4 kilometers exhibiting gold concentrations exceeding 20 parts per billion.
This discovery is particularly intriguing given the project’s location between two major gold-hosting terranes and its proximity to established gold mining centers and Horizon Minerals’ Black Swan Plant Gold Conversion Project. The geological setting suggests potential for a primary gold source, prompting Moho to prepare for a preliminary aircore drilling program to test both oxide and basement targets.
Exploration and Portfolio Rationalisation Continue
While no significant exploration was conducted at the Weld Range North Project during the quarter, Moho remains focused on portfolio rationalisation to concentrate resources on its most promising assets. The company relinquished certain tenements that no longer align with its strategic objectives, underscoring its commitment to value generation through targeted exploration.
Exploration expenditure for the quarter was $124,758, reflecting disciplined investment in advancing key projects. The company’s leadership, including Chairman Peter Christie and geologist Graeme Hardwick, emphasize a methodical approach to exploration, balancing risk with the potential for meaningful discoveries.
Looking Ahead
Moho’s upcoming drilling campaign at Silver Swan North will be a critical test of the newly identified gold anomaly’s potential. Success here could redefine the company’s growth trajectory and attract further investor interest. Meanwhile, the financial boost from the Empress Springs sale provides a solid foundation for these exploration efforts.
Bottom Line?
Moho’s strategic divestment and promising new gold target set the stage for a pivotal exploration phase ahead.
Questions in the middle?
- What will initial aircore drilling results at Silver Swan North reveal about the gold anomaly’s viability?
- How will Moho prioritise its exploration budget across its remaining projects following the divestment?
- Could the discovery at Silver Swan North attract potential partners or joint venture opportunities?
