From Yahoo Finance: 2025-05-12 09:57:00

Sabre Resources has sold its Ninghan gold project tenements in Western Australia to Capricorn Metals for A$1.6m, with an additional A$1.5m in Capricorn shares. The deal includes a 1% net smelter return royalty on minerals extracted from five tenements, and a 1.5% royalty on a specific tenement. Capricorn has committed to up to A$1.5m in contingent milestone payments to Sabre.

The completion of the sale follows the terms outlined in the asset sale and purchase agreement signed by both companies last month. Sabre Resources CEO Jon Dugdale expressed delight at the transaction and the financial boost it provides for the company’s exploration projects. Capricorn has identified seven exploration targets within the Ninghan gold project, which covers approximately 77km².

Capricorn Metals will make contingent milestone payments to Sabre, including A$750,000 upon declaring a JORC-compliant mineral resource estimate of over 50,000oz of gold, and another A$750,000 upon deciding to start commercial mining operations at the site. The sale of the Ninghan gold project to Capricorn Metals puts Sabre Resources in a strong financial position to pursue core exploration projects and other opportunities.



Read more at Yahoo Finance: Sabre Resources completes Ninghan gold project sale to Capricorn Metals