Solstice Minerals' strategic divestment

Solstice Minerals (ASX:SLS) has announced the sale of a non-core exploration license from its Yarri Project to Kalgoorlie Gold Mining Ltd. This move is part of Solstice's strategy to streamline its focus on the Yarri Project. The company will receive shares worth $70,000 in Kalgoorlie Gold and retain a 1% Net Smelter Royalty.

Solstice Minerals' future outlook

Solstice Minerals' recent divestment aligns with its ongoing strategy to concentrate on the Yarri Project, which spans 1,658 km². By selling the Exploration License E31/1262 to Kalgoorlie Gold Mining Ltd, Solstice receives $70,000 worth of Kalgoorlie Gold shares and retains a 1% NSR, ensuring potential future benefits. The company is actively awaiting assay results from its Bluetooth Gold Prospect drilling and is set to resume aircore drilling at Edjudina Range in January. With a strong cash position of $15.8 million, Solstice is well-positioned to pursue new exploration opportunities, aiming to identify 'stand-alone' scale projects and add shareholder value.

Executive insights on the sale

The sale of the Exploration License E31/1262 is in line with our strategy to refine and prioritize our Yarri Project tenements, allowing us to focus on high-potential gold or basemetal targets. We are pleased to retain a 1% NSR, providing future upside potential from this divestment.