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Sinclair Gold Ltd (ASX:SGC)

ALERT: Price-sensitive ASX Announcement for SGC
Current share price for SGC : $1.200 -0.225 (-15.79%)+
Announcement
Release
26 Aug 2026 8:00AM
Price at Release
$1.425
Full Release
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Summary
Sinclair Gold Ltd has announced the completion of over 20,000 meters of drilling at the Mt Henry Gold Project, located in Western Australia. This milestone triggers the first contingent consideration milestone under their acquisition agreement with Westgold Resources Limited. Sinclair has chosen to make a $5 million cash payment to Westgold, canceling 7,575,758 performance rights associated with the contingent consideration. The company holds $38.2 million in cash as of 30 June 2026. An updated Mineral Resource Estimate is expected before the end of December 2026. Furthermore, Sinclair has satisfied all conditions for a transaction with Stria Lithium Inc., which will provide Sinclair with $4 million in cash, 4 million shares in Stria, and a 1% net smelter return royalty on the Mt Henry Project. Sinclair's strategy is supported by a diverse management team and also involves interests in mining projects in Sweden.
Key Points
  • Completion of over 20,000 meters of drilling at Mt Henry Gold Project.
  • Triggers contingent consideration with Westgold Resources.
  • Sinclair elects to pay $5 million in cash, canceling performance rights.
  • Updated Mineral Resource Estimate targeted by December 2026.
  • Stria Lithium Inc. transaction conditions satisfied.
  • Sinclair to receive $4 million in cash, shares, and royalty.
  • Diverse management team and international mining interests.
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.