Bracken Resources has recently acquired pressure oxidation plant located at the Hillgrove Antimony mine. It had offered about $3.2m to purchase the plant. The sale of the plant was completed on the 19 April
In addition, OZ Minerals has offered to acquire Stuart Shelf exploration project for a total of $2.2m. The project comprises seven exploration licenses located near OZ Minerals’ Carrapateena Licenses. The deal is expected to be completed by the end of April.
Commenting on the developments, Straits Resources executive chairman Andre Labuschagne noted that the sale of the assets adds up to its efforts to simplify its organization.
"Our largest remaining non-core asset is the Temora copper/gold project in NSW. This is a high quality project targeting copper porphyry deposits in the proven and highly prospective Lachlan Fold belt in NSW," added Labuschagne.
"We are currently assessing the various options for maximising the inherent value in this project which we don’t believe is currently being recognised by the market," concluded Labuschagne.
