Moho Resources makes strategic sale

Moho Resources (ASX:MOH) has announced the sale of its East Sampson Gold Project to Mineral Mining Services Pty Ltd for up to $4 million. The deal includes an initial payment of $1 million and deferred payments based on gold production milestones. Additionally, Moho has raised $793,000 through a share placement, strengthening its balance sheet for further exploration.

Moho Resources' strategic direction and future outlook

Moho Resources has strategically divested its East Sampson Gold Project, securing up to $4 million from Mineral Mining Services Pty Ltd. This agreement incorporates an initial cash payment and deferred milestone-based payments. The transaction is set to complete within 45 days, pending due diligence and approvals. Additionally, Moho has raised $793,000 via a share placement, which will bolster its financial position. The sale and capital raise support Moho's ambition to focus on new exploration opportunities and enhance shareholder value. The company continues to align its strategy towards growth and development in new ventures.

Executive commentary on strategic sale

The sale of the East Sampson Gold Project aligns with Moho's strategic objectives, providing capital for exploration and enhancing shareholder value,' commented Moho Resources.