Latest Asset Divestment News

Famien Resources will sell its West Yilgarn exploration portfolio to Voltaic Strategic Resources for $330,000 upfront, with a further $2 million tied to future gold resource milestones. The deal gives Famien immediate cash while leaving the larger deferred payment dependent on exploration success by the buyer.

Cavalier Resources has lifted the Crawford Gold Project’s Stage 1 NPV by about 50% to A$77.2 million, while drilling supports extensions beyond the planned starter pit. But the annual report also flags a material uncertainty over going concern, with proposed project financing still subject to definitive documentation.

Catalina Resources has executed the mining lease transfer for its Nelson Bay River project, paving the way for up to $1.29 million in rehabilitation security to be recovered. The company plans to redirect the capital into November drilling at its Kirkalocka gold and Tallering tungsten projects, subject to final heritage clearance and regulatory steps.

Auravelle Metals has agreed to divest its Skeleton Rocks Project in Western Australia to Forrestania Resources for $250,000 in cash or shares. The deal remains subject to due diligence and other conditions, as Auravelle narrows its exploration focus to Nuckulla Hill and Crown.

FireFly Metals has turned a year of aggressive drilling into a substantially larger, higher-confidence Green Bay resource, backed by an August PEA and fresh funding. The next test is execution: feasibility, permits, construction decisions and the capital required to build a mine.

Kincora Copper has received a further US$1.5 million from the staged sale of its Mongolian subsidiaries, taking proceeds to US$6.5 million. A final US$3.5 million remains scheduled by the end of 2026, subject to transaction milestones and conditions.

Nelson Resources is selling its Woodline and Fortnum exploration projects for up to $1.09 million, including $690,000 in stated cash consideration and contingent Woodline payments. The divestments are intended to sharpen the company’s focus on Gold Point in Nevada and other priority assets.

Fitzroy River Corporation reported a modest loss for FY26, with a key highlight being a $12.27 million disputed payment from Endura Mining related to its Snowy River Gold Project royalty. The company has initiated court proceedings in New Zealand to clarify the validity of this buyout option while exploring potential sale of its Bowdens Silver royalty.

Codrus Minerals Limited posted a $1.41 million loss for FY26 as it confirmed gold and molybdenum mineralisation at Bull Run, rationalised its portfolio, and secured a binding acquisition of EdgeMet with a $2.5 million capital raise underway.

Alice Queen's subsidiary Monzonite Metals has agreed to sell its non-core NSW tenement EL8646 to Alkane Resources for $900,000 cash, sharpening focus on the Horn Island Gold Project in Queensland.

Great Northern Minerals (ASX: GNM) reported a $3.8 million loss for FY26 amid major US acquisitions, including the Iron Butte gold-silver project with a maiden resource of 480,000 oz gold and 11.5 million oz silver, and the Catalyst Ridge rare earths project. The company also completed a $2 million divestment of its remaining Golden Ant interest.

WasteCo Group is raising $2 million through a share placement at $0.007 per share to finance a comprehensive turnaround and expansion plan amid ongoing financial challenges and a leadership overhaul.