Kalgoorlie Gold Mining expands with new acquisition

Kalgoorlie Gold Mining Ltd (ASX:KAL) has acquired a non-core Exploration Licence from Solstice Minerals Limited related to the Yarri Project. The acquisition was made for $70,000 in KAL shares. Solstice retains a 1% Net Smelter Royalty on the licence, aligning with its strategy to optimize its Yarri Project landholdings.

Kalgoorlie Gold Mining's strategic expansion

Kalgoorlie Gold Mining Ltd has successfully acquired an Exploration Licence from Solstice Minerals Limited for $70,000 in shares while allowing Solstice to retain a 1% Net Smelter Royalty. This move is part of Solstice's broader strategy to prioritize and optimize its Yarri Project landholdings. The divestment is consistent with Solstice's previous sale of the Hobbes Exploration Licence and reflects its ongoing efforts to focus on high-priority exploration targets. Kalgoorlie Gold Mining's acquisition supports its expansion strategy, providing potential new opportunities in gold exploration. Solstice, meanwhile, is actively advancing exploration activities within its portfolio, supported by a significant cash reserve, and remains committed to enhancing shareholder value through strategic investments and divestments.

Executive insights on recent acquisition

The sale of this non-core asset aligns with our strategy to refine our Yarri Project holdings and focus on high-priority targets.