Xstate Resources (ASX:XST) completes $4M divestment of Red Earth assets

Xstate Resources completed the sale of its 25% working interest in the Red Earth Assets located in Alberta, Canada.

The final payment of US$1.3 million ($2 million) has been received, bringing the total proceeds from the divestment to $4 million.

"The proceeds from this transaction are being deployed to expedite the acquisition and advancement of high-impact exploration and appraisal opportunities," Chairman Andrew Childs remarked.