Flagship Minerals sells lithium project for US$4 million
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- Flagship Minerals signed a binding agreement to sell its total stake in the RK Lithium Project in Thailand.
- ·The transaction provides immediate cash, with half of the funds arriving within the week.
- The company stated that the divestment will finalise its strategic transition into an explorer focused solely on gold and copper.
Flagship Minerals (ASX:FLG) has agreed to sell its total stake in a Thailand lithium project for US$4 million.
This divestment contrasts with the previous year when the business actively held multiple diversified mineral assets.
The buyer will pay the consideration in cash, with approximately 50% of the money due this week.
The company stated that it is also continuing discussions regarding the sale of its Khao Soon Tungsten Project.
Following the announcement, the Flagship Minerals share price was down at $0.18.
The company stated that completing these divestments will finalise its corporate transition into a gold and copper explorer.
