Saturn Metals (ASX:STN) has formalised a strategic shift in its exploration portfolio, announcing the divestment of its West Wyalong Gold Project in New South Wales to Xpedra Resources (ASX:XPD).
The transaction involves the sale of Saturn’s 60% joint venture interest in EL8815 and its 100% interest in EL9168.
In exchange, Saturn is set to receive a total consideration of $50,000 in cash and 30 million shares in Xpedra.
To ensure market stability, these shares are subject to tiered escrow periods, with half locked for three months and the remainder for six months from the date of issue.
The divestment represents a calculated move by Saturn to offload non-core assets and sharpen its focus on its 100%-owned flagship Apollo Hill Gold Project in Western Australia.
By streamlining operations, the company aims to fast-track Apollo Hill towards production, with a definitive feasibility study currently slated for completion in the second half of 2026.
Managing Director Ian Bamborough noted that the deal creates a "positive outcome for both parties".
While Saturn narrows its operational lens to Western Australia, the share-based component of the deal allows its shareholders to retain indirect exposure to the exploration potential at West Wyalong and Xpedra’s broader NSW portfolio, including the active maiden drilling programme at the Springfield Project.
The completion of the sale remains subject to standard regulatory approvals.
At the time of reporting, Saturn Metals’ share price was $0.21.