Silver and critical minerals explorer Iltani Resources (ASX:ILT) has entered into a tenement sale agreement with G11 Resources (ASX:G11) to sell its two non-core Tasmanian tenements, EL6/2024 and EL33/2022, for $150,000 in cash.
Iltani Managing Director Donald Garner said the sale allows the company to focus on strategic growth opportunities, "We are pleased to sell our non-core tenements in Tasmania to G11 Resources. The cash generated from the sale will be re-invested in our business development activities. "
"We are targeting precious and base metal assets that will grow our portfolio, create material shareholder value, and complement our existing assets in Northern Queensland," he added.
At the time of reporting, Iltani Resources’ share price was $0.53.