Great Northern Minerals divests non-core assets

Great Northern Minerals (ASX:GNM) has agreed to sell a majority interest in Queensland gold and antimony projects as part of its strategy to derive value from non-core exploration assets.

The company has signed a legally binding share sale agreement with privately held Great Eastern Gold to sell 90% of the issued share capital in Golden Ant Mining in addition to Great Northern’s 50% joint venture interest in EPM26637.

This divestment enables the company to focus on the near-term exploration and development growth of the recently acquired Finland Lithium Project plus its existing Australian exploration portfolio.

CEO and Managing Director Cameron McLean says the divestment aligns with the company’s strategic focus on critical raw materials.

“The proceeds from this transaction will assist in supporting our exploration programs on existing assets, including GNM’s exciting Finland Lithium Project, plus our Australian exploration portfolio. GNM will also continue to assess other critical raw material opportunities as they arise.”

Write to Adam Orlando at Mining.com.au

Images: Great Northern
Author Image
Written By Adam Orlando
Mining.com.au Managing Editor Adam Orlando has more than 20 years’ experience in the media having held senior roles at various publications, including as Asia-Pacific Sector Head (Mining) at global newswire Acuris (formerly Mergermarket). Adam has worked in newsrooms around the world including Hong Kong, Singapore, London, and Sydney.