FIRB approval boosts asset sale

Triton Minerals (ASX:TON) has announced that Shandong Yulong Gold Limited has received Foreign Investment Review Board (FIRB) clearance for its acquisition of 70% of Triton's Mozambique graphite assets. The transaction is valued at A$17 million in cash, with a pre-completion payment of $5,950,000 expected to significantly enhance Triton's financial position. The pre-completion phase is set to occur on or before December 31, 2024.

Overview of strategic transaction and future outlook

Triton Minerals has received FIRB clearance for Shandong Yulong Gold's acquisition of a 70% stake in its Mozambique graphite assets, valued at A$17 million. This development is expected to enhance Triton's financial stability and support its strategic initiatives. The pre-completion phase includes a significant payment to Triton and changes to the boards of its Mozambique ownership companies. Triton aims to leverage this transaction to pursue its strategic and operational goals, while keeping shareholders informed about ongoing progress and other business developments.

Executive insights on strategic acquisition

Triton has expressed gratitude to its shareholders for their continued support and will continue to update them on the progress of the asset sale and other business development activities.