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Firetail Resources Limited ( (AU:FTL) ) has provided an update.
Firetail Resources Limited has entered into a binding agreement with Spartan Resources Ltd to sell the lithium rights over several Australian projects for $275,000. This divestment aligns with Firetail’s strategy to focus on the Skyline Copper Project in Canada, while also enhancing its financial position. The transaction reflects Firetail’s commitment to streamlining its portfolio, focusing on core assets, and exploring new opportunities for shareholder value through its projects in Canada and Peru. Meanwhile, discussions continue for the sale of other non-core Australian assets, indicating a strategic shift towards more promising ventures.
More about Firetail Resources Limited
Firetail Resources Limited is an Australian-based copper exploration company, focusing on its flagship Skyline Copper Project in Newfoundland, Canada, and the generative exploration at the Picha Project in Peru. The company is involved in advanced high-grade Copper-Zinc-Silver VMS projects and holds significant greenfield high-grade copper potential through its interests in projects in Southern Peru.
YTD Price Performance: -6.25%
Average Trading Volume: 245,737
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$24.86M
See more data about FTL stock on TipRanks’ Stock Analysis page.
