Triton Minerals Limited (AU:TON) has released an update.
Triton Minerals Limited has entered into a binding agreement to sell 70% of its Mozambique Graphite Assets to Shandong Yulong for A$17 million, in a deal that allows Triton to retain a 30% joint venture interest. The transaction will provide Triton with near-term cash and enable the company to invest in new value-accretive acquisitions while maintaining exposure to the graphite market. Executive Director Andrew Frazer sees this as an optimal path to generate shareholder value and leverage Shandong Yulong’s financial strength for the project’s development.
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