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Turnstone Resources Ltd (ASX:TSR)

ALERT: Price-sensitive ASX Announcement for TSR
Current share price for TSR : $0.024 -0.008 (-25%)+
Announcement
Release
1 Jun 2026 9:29AM
Price at Release
$0.032
Full Release
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Summary
Turnstone Resources Ltd has successfully exercised its option to acquire the Glava 100 copper-gold permit area in Sweden, expanding its critical minerals portfolio. The transaction involves a payment of A$150,000 in Turnstone shares, contingent on regulatory approvals from Swedish authorities. The acquisition is part of Turnstone's strategy to consolidate its position in Sweden's critical minerals sector, with additional licenses secured in the Glava-Klinten and Torsby West project areas. Ongoing field work and future drilling are planned to further explore these prospective areas.
Key Points
  • Turnstone Resources Ltd exercised Glava 100 option with McKnight Resources AB.
  • Glava 100 is a copper-gold permit area in Värmland Province, Sweden.
  • The option exercise cost is A$150,000 in TSR shares at A$0.0352 per share.
  • Completion requires regulatory approvals from Swedish authorities ISP and SGU.
  • The agreement includes a 1.5% net smelter royalty to McKnight.
  • Additional licenses in Sweden expand Turnstone's critical minerals portfolio.
  • Field work includes geological mapping and drone surveys.
  • Drilling at Glava set for the second half of 2026.
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.