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Adavale Resources Limited (ASX:ADD)

ALERT: Price-sensitive ASX Announcement for ADD
Current share price for ADD : $0.038 0 (0%)+
Announcement
Release
11 Jun 2026 8:51AM
Price at Release
$0.038
Full Release
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Summary
Adavale Resources Limited has entered into an agreement with Orpheus Uranium Ltd to sell its Marree Embayment Uranium Portfolio, consisting of 7 exploration licenses in South Australia, for $650,000 and 5,000,000 Orpheus shares. This strategic move allows Adavale to concentrate on its core gold-copper assets within the Belt-Scale Parkes Project in New South Wales, which now includes a 70km contiguous strike with a 166koz gold resource. The transaction enables Adavale to continue benefiting from the uranium sector through its Orpheus shareholding while advancing exploration activities such as drilling and geophysical surveys at the Parkes Project.
Key Points
  • Adavale Resources Limited (ASX: ADD) has entered into a binding term sheet with Orpheus Uranium Ltd for the sale of its Marree Embayment Uranium Portfolio.
  • The transaction involves a total consideration of $650,000 in cash and 5,000,000 Orpheus shares, providing Adavale with continued exposure to the uranium market.
  • The Marree Embayment Portfolio includes 7 exploration licenses over 2,513 km² in a proven uranium province.
  • The sale allows Adavale to focus strategically on its gold-copper assets in the Belt-Scale Parkes Project in New South Wales, Australia.
  • The Parkes Project now covers 70km of contiguous strike and hosts a 166koz gold resource.
  • Adavale plans to enhance its gold-copper exploration program, including drilling and geophysical surveys, at the Parkes Project.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.