Beacon Minerals (ASX:BCN) has announced that its wholly owned subsidiary, Beacon Mining, has entered into a binding agreement to sell its non-core Mt Dimer tenement package in Western Australia to Forrestania Resources (ASX:FRS).
The sale, valued at $50,000 (excluding GST), aligns with Beacon’s strategy of portfolio rationalisation by monetising non-core assets and reducing holding and compliance costs.
The transaction includes 100% legal and beneficial interests in tenements M77/965, M77/957, M77/958, and E77/2518, along with associated mining information.
Additionally, Forrestania will pay $150,000 for exclusivity rights to acquire other specified tenements should Beacon seek to sell them.
Completion is subject to regulatory and third-party approvals, with a three-month window to satisfy these conditions and final settlement expected five business days thereafter.
Beacon intends to use proceeds from the sale to support working capital commitments and its ongoing gold retention strategy.