Greenvale Energy's sale of shareholding in Astute Metals

Greenvale Energy Limited (ASX: $GRV) has sold its investment in Astute Metals NL (ASX: $ASE) for $1.530 million, boosting its total cash position to over $2.85 million. The company retains a 2.0% NSR over Astute's Georgina IOCG Project and is entitled to a further milestone payment of 5 million fully paid ASE shares, subject to Astute achieving the milestones set out in the ASX release dated 29 January 2024. Additionally, the company's staged testwork on the Alpha Project continues, with the 2023 R&D Grant of approximately $830,000 expected to be received shortly.

Executive Commentary on Greenvale's Recent Transaction

The sale of our investment in Astute Metals allows us to strengthen our cash position, providing us with greater financial flexibility to advance our ongoing projects, including the Alpha Project. We are also looking forward to the expected receipt of the 2023 R&D Grant, which will further support our research and development initiatives. This transaction aligns with our strategic focus on optimizing our investment portfolio and maximizing value for our shareholders.

Summary of Greenvale Energy's Announcement

Greenvale Energy Limited (ASX: $GRV) has successfully sold its shareholding in Astute Metals NL for $1.530 million, bolstering its cash reserves to over $2.85 million. The company retains a 2.0% NSR over Astute's Georgina IOCG Project and is poised to receive a milestone payment of 5 million fully paid ASE shares, subject to specific milestones being met by Astute. Additionally, the ongoing testwork on the Alpha Project, supported by the anticipated 2023 R&D Grant of approximately $830,000, reflects the company's commitment to advancing its projects. Greenvale's focus on optimizing its investment portfolio and leveraging opportunities for value creation underscores its strategic approach. The company anticipates the forthcoming 2023 R&D Grant and expects the 2024 R&D Grant to be of a similar size, further underpinning its research and development endeavors.