Kingfisher Mining has sold its Boolaloo Project to Black Cat Syndicate (ASX:BC8).
The consideration for the divestment includes 2 million fully paid ordinary shares in Black Cat valued at $560,000 and a 0.5% net smelter return royalty on gold and copper produced from all the Boolaloo tenements.
The sale lets Kingfisher focus on its Mick Well REE and Chalby Chalby Lithium projects.
The completion of the transaction will also enable Kingfisher to direct all its exploration expenditures to the Gascoyne projects.