Impact Minerals Limited ( (AU:IPT) ) has shared an update.
New Frontier Minerals Limited has agreed to sell its subsidiary, BHA No. 1 Pty Ltd, which holds the Broken Hill East Project, to Impact Minerals Limited for $275,000 worth of IPT shares. This transaction marks the third divestment of a non-core asset by New Frontier in recent months, allowing the company to focus resources on its core projects, such as the Harts Range and NWQ Copper Projects. The sale aligns with New Frontier’s strategy to optimize its asset portfolio by securing the right development partners, with the Mkushi Copper Project in Zambia being the last remaining non-core asset.
More about Impact Minerals Limited
New Frontier Minerals Limited is an Australian-based exploration company focused on developing multi-commodity assets with potential for economic mining operations. The company is actively progressing its core interests, including the Harts Range Niobium, Uranium, and Heavy Rare Earths Project in the Northern Territory and the NWQ Copper Project in Queensland. New Frontier Minerals is listed on the LSE and ASX under the ticker ‘NFM’.
Technical Sentiment Consensus Rating: Buy
Current Market Cap: €12.42M
For a thorough assessment of IPT stock, go to TipRanks’ Stock Analysis page.