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Advance Metals Limited (ASX:AVM)

ALERT: Price-sensitive ASX Announcement for AVM
Current share price for AVM : $0.075 -0.003 (-3.85%)+
Announcement
Release
21 May 2026 8:47AM
Price at Release
$0.078
Full Release
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Summary
Advance Metals Limited announced its move to secure 100% ownership of the high-grade Myrtleford and Beaufort Gold Projects in Victoria, Australia. This follows successful exploration and metallurgical results, including significant gold recoveries up to 96% at the Happy Valley site. The company will acquire the remaining 20% interest from 1548043 B.C. Ltd, bringing the total acquisition cost to C$4.0 million over three years. Additionally, a 1% net smelter return royalty will be granted to the former partner. Exploration efforts continue across the broader Myrtleford area to identify further high-grade gold deposits.
Key Points
  • Advance Metals Limited (AVM) to acquire 100% ownership of Myrtleford and Beaufort Gold Projects.
  • Amended agreement involves a total consideration of C$4.0M.
  • Successful exploration at Myrtleford with high-grade drilling results.
  • Advance to pay remaining 20% interest with modified payment schedule.
  • Advance to grant a 1% net smelter return royalty to 1548043 B.C. Ltd.
  • High gold recovery rates up to 96% at Happy Valley.
  • Future development pathways being assessed for Happy Valley.
  • Regional exploration across Myrtleford and Beaufort ongoing.
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.