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Pure Resources Limited (ASX:PR1)

ALERT: Price-sensitive ASX Announcement for PR1
Current share price for PR1 : $0.320 0 (0%)+
Announcement
Release
24 Jul 2026 4:23PM
Price at Release
$0.320
Full Release
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Summary
Pure Resources Limited has announced the divestment of its non-core Mt Monger Gold Project in Western Australia to AFT Gold Assets Pty Ltd. The sale includes a 100% interest in granted Exploration Licence E26/227 and related mining information. The transaction involves a cash payment of $20,000 at settlement, plus a potential Uplift Fee of 20% if the asset is part of an IPO, reverse takeover, or trade sale within 18 months. This fee will match the form of any consideration received by the purchaser. The divestment helps Pure Resources eliminate ongoing holding costs and align with its strategic direction. Settlement is contingent upon due diligence and possible Ministerial consent, while Rocco Tassone highlights the potential financial upside for shareholders if the project is monetized in the specified timeframe.
Key Points
  • Pure Resources Limited entered into a binding Tenement Sale Agreement with AFT Gold Assets Pty Ltd.
  • Sale of 100% interest in the non-core Mt Monger Project, Exploration Licence E26/227.
  • Cash consideration of $20,000 to be paid at settlement.
  • Uplift Fee of 20% of total consideration if the tenement is part of an IPO, reverse takeover, or trade sale within 18 months.
  • Uplift Fee payable in the same form and proportions as the consideration received by the purchaser.
  • Pure’s entitlement to Uplift Fee secured by a caveat and a deed of guarantee from the purchaser’s directors.
  • Divestment removes ongoing holding costs and expenditure commitments.
  • Settlement subject to customary conditions including completion of due diligence and Ministerial consent.
  • Rocco Tassone, CEO, comments on strategic alignment and financial upside.
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.