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Pearl Gull Iron Limited (ASX:PLG)

ALERT: Price-sensitive ASX Announcement for PLG
Current share price for PLG : $0.031 0.007 (29.17%)+
Announcement
Release
23 Dec 2025 9:09AM
Price at Release
$0.024
Full Release
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Summary
Pearl Gull Iron Limited has announced the successful completion of the sale of its 100% interest in the Cockatoo Island Project. The sale was executed for a cash consideration of A$4.5 million, alongside a 4% indirect equity interest in Crestlink Pty Ltd, and future royalties on materials extracted from the Cockatoo Island tenements. The agreement, initially announced on 4 September 2025, involves Buccaneer Resources Pty Ltd, Crestlink Pty Ltd, and JCA WA Nominees Pty Ltd. Pearl Gull has already received A$2.5 million and will receive an additional A$2.0 million by December 2026. The company will use the proceeds for new projects and growth opportunities, aiming to generate value for shareholders while retaining some exposure to the Cockatoo Island project through its equity interest in Crestlink.
Key Points
  • Sale of 100% interest in Cockatoo Island Project completed.
  • Cash consideration of A$4.5 million received.
  • 4% indirect equity interest in Crestlink Pty Ltd acquired.
  • Royalties on materials extracted from Cockatoo Island tenements included.
  • A$2.5 million received; A$2.0 million to be received by December 2026.
  • Transaction involved Buccaneer Resources, Crestlink, JCA WA Nominees.
  • Proceeds to be used for new projects and growth opportunities.
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.