ActivEX sold its wholly-owned subsidiary, ActivEx Canning, responsible for nine thermal and metallurgical coal tenements in Queensland, to ASF Group (ASX:AFA) for $75,000.

The tenements, covering 895.47km2 in the Bowen and Surat Coal Basins, will provide working capital for ActivEX.

The tenements, including exploration projects with expiry dates up to 2026, span from west of Mackay to southwest of Rockhampton.

The disposal aligns with ActivEX's focus on the exploration of gold, lithium, and base metals, allowing it to concentrate on core assets within North and Southeast Queensland.