Latest Divestments News

Galilee Energy has agreed to sell its Glenaras Gas Project subsidiary to Novus Energy, freeing up capital and management focus to accelerate its US Gulf Coast oil and gas ambitions while retaining a royalty interest in Glenaras.

Bindi Metals has signed a binding agreement to divest its Biloela copper-gold project in Queensland to Jacaranda Natural Resources, retaining a 2% royalty and milestone-based equity. The sale will free up resources to focus on its Ravni Gold Project in Serbia, pending shareholder approval.

Dynamic Metals has agreed to sell non-core gold assets within its Widgiemooltha Project to Corazon Mining for up to $3.5 million, including cash, shares, milestone payments, and a 1.5% gold royalty, while retaining lithium rights.

Clara Resources (ASX:C7A) sharpened its exploration focus on the Mareeba Gold Project, unveiling seven new targets from a LiDAR survey and expanding its tenure by 111 km². The company also refreshed its leadership and bolstered its cash position through a $1.13 million equity raise.

Westpac has completed the $15.4 billion sale of its RAMS mortgage portfolio to a consortium including Pepper Money, KKR, and PIMCO, lifting its capital ratio and simplifying operations.

Echelon Resources has finalised its divestment of Cue Energy shares, boosting cash and cutting debt, while progressing key drilling and gas supply agreements.

HSBC Bank Australia has agreed to sell its AUD36 billion home and personal loan book to Blackstone-managed funds, marking a significant retreat from retail banking. The deal awaits regulatory approvals and is expected to close in H1 2027.

Middle Island Resources has reported strong Phase 2 drilling results at its Bobija project in Serbia, revealing an extensive shallow gold-silver-base metal system. Soil sampling at Tisovik further highlights large polymetallic targets with high-grade antimony, supporting a carbonate replacement deposit model.

Spenda Limited has reshaped its business with significant cost cuts, divested non-core assets, and secured major shareholder backing, positioning itself for cash flow positive operations.

Legacy Minerals delivers a robust scoping study for Mt Carrington with A$514 million pre-tax NPV, confirms a new gold-silver discovery at Mascotte, and advances multiple drilling programs across NSW projects.

T&G Global has agreed to sell its T&G Fresh business in three transactions worth a combined enterprise value of NZD 72.65 million, aiming to sharpen its focus on premium apples and VentureFruit platforms while reducing debt.

Rincon Resources confirms historic high-grade gold-copper mineralisation extensions at Telfer South and secures a significant joint venture deal for West Arunta, underpinning its exploration focus and capital position.