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.