Classic Minerals Ltd. (AU:CLZ) has released an update.
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Classic Minerals Ltd. has signed a $7 million agreement to sell its Kat Gap tenements to Bain Global Resources Pty Ltd, subject to shareholder approval. This strategic sale aims to provide Classic with the necessary capital to further explore and develop its Lady Ada and Lady Magdalene gold projects, while Bain plans to bring the Kat Gap project into full production. The deal underscores the value of Classic’s assets and facilitates its operational expansion.
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