IRIS Metals announced the divestment of its Kookynie Gold Project to Nex Metals Explorations (ASX:NME), aligning with its strategic focus on enhancing its lithium asset portfolio in South Dakota.
The sale includes 54,054,433 new fully paid ordinary shares in Nex Metals and a 2% net smelter return royalty, with Nex Metals taking over all prospector agreements on the tenements.
The transaction is subject to customary conditions and regulatory approvals.