Alicanto Minerals (ASX:AQI) is conducting numerous strategic transactions regarding its Swedish asset portfolio to expand its Mt Henry Project in Norseman, Western Australia.
The company’s Falun, Greater Falun, and Sala projects will be advanced by strategic partners under a series of earn-out transactions, preserving ongoing shareholder exposure to future upside at the assets while Alicanto increases focus at Mt Henry.
This includes a non-binding letter of intent for a proposed earn-out with Medaro Mining Corp (CSE:MEDA) for the Sala Silver-Zinc Project in Sweden, along with a separate earn-out agreement with a private Canadian mining group in relation to the Falun and Greater Falun projects.
The transactions will deliver up to $9 million in cash, followed by milestone payments and share consideration to Alicanto. This is combined with $11.8 million in third-party-funded exploration across the Swedish assets.
The company has also entered an agreement with Cullen Resources (ASX:CUL) to acquire exploration licences adjacent to Mt Henry.
Alicanto intends to use existing cash to pay the cash component of the acquisition consideration, which equals to $100,000.
New look
Alicanto is proposing a name change to Sinclair Gold to further reflect the company’s shift of strategic focus to Western Australian gold assets.
The company is seeking shareholder approval regarding the name change at an upcoming general meeting, expected to be held in July 2026, including a ticker code change from ‘AQI’ to ‘SGC’ to reflect the proposed company name.
Alicanto is currently conducting a 50,000m drilling program at Mt Henry, targeting growth of the existing 915,000-ounce gold resource. Assays for this campaign are currently pending and are expected to be returned in the coming weeks.
As reported by Mining.com.au, Alicanto completed the acquisition of the Mt Henry Gold Project in February 2026 for a total consideration of $110 million.
The company began preparing for its maiden drilling campaign at Mt Henry in late 2025, engaging with DDH1 Drilling to conduct the program.
Alicanto Minerals is an emerging gold company focused on advancing the Mt Henry Gold Project in Western Australia.
Write to Maddison Elliott at Mining.com.au
Images: Alicanto Minerals
