Olympio Metals' strategic transaction

Olympio Metals (ASX:OLY) has signed an option agreement to sell its Mulwarrie Project in Western Australia. The agreement is with Orminex West Pty Ltd, a subsidiary of Labyrinth Resources Limited, for up to $1.375 million. This move allows Olympio to focus on other ventures while maintaining potential benefits from exploration successes.

Overview of Olympio Metals' recent agreement

Olympio Metals, through its subsidiary Rocktivity Gold Pty Ltd, is set to sell the Mulwarrie Project to Orminex West Pty Ltd. The sale includes an initial cash payment, shares, and a milestone payment contingent on resource definition. Liontown Resources Ltd has withdrawn from a previous agreement, allowing Olympio to pursue other opportunities. The company remains focused on leveraging its assets while benefiting from any potential exploration successes at Mulwarrie.

Executive insights on the Mulwarrie Project deal

We are pleased to be able to enter into this agreement, which allows Olympio to focus on developing our other assets while maintaining exposure to potential exploration success at Mulwarrie. We acknowledge the contributions of Liontown Resources Ltd during their tenure under the previous Farm-In agreement.