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Union Star Metals sells Kalgoorlie Gold Project for $890,000
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Union Star Metals sells Kalgoorlie Gold Project for $890,000

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  • Union Star Metals has entered a binding option agreement to potentially sell its Kalgoorlie Gold Project.
  • The total potential consideration for the deal is up to $890,000, while the company's share price remained unchanged.
  • The transaction drives the company's strategy to divest non-core Australian assets and fund its flagship US projects.

Union Star Metals (ASX:USM) has executed a binding option agreement to sell its Kalgoorlie Gold Project for up to $890,000.

This divestment contrasts with the company's previous exploration focus within Western Australia.

The deal includes $270,000 upon option exercise.

The transaction remains subject to conditions precedent, including required shareholder approvals under ASX Listing Rules.

Following the announcement, the Union Star Metals share price was unchanged at $0.009.

The company stated that the transaction supports its strategy of rationalising non-core Australian assets.

Capital will instead be directed towards advancing its flagship gold and silver projects in Nevada, USA.

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