Triton Minerals sells major stake in graphite assets

Triton Minerals (ASX:TON) has executed a Share Sale and Purchase Agreement with Shandong Yulong Gold Limited. This agreement involves the sale of 70% of Triton's interests in the Mozambique Graphite Assets for $17 million in cash. The assets include the Ancuabe Graphite Project and interests in Nicanda Hill, Nicanda West Projects, and the Cobra Plains mining concession.

Key transaction details and future outlook

Triton Minerals has entered into a Share Sale and Purchase Agreement for the sale of 70% of its Mozambique Graphite Assets to Shandong Yulong Gold Limited for $17 million. The payment is structured in stages, with a deposit, pre-completion payment, and final completion payment, contingent on necessary approvals. Triton retains a 30% stake and plans to use the proceeds for joint venture contributions, exploration in the Aucu Gold and Copper Project, and potential acquisitions. The deal requires regulatory approvals, including from the Chinese government and FIRB, and Triton shareholder approval. Triton aims to diversify and expand its resources portfolio, enhancing shareholder value and market position.

Executive commentary on strategic transaction

Triton is pleased to announce this agreement with Shandong Yulong, which marks a significant step forward in our strategic plan. The transaction will unlock shareholder value and allow us to advance our corporate objectives while retaining a meaningful interest in the Mozambique Graphite Assets and staying active in the graphite market.