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Viking Mines Limited (ASX:VKA)

ALERT: Price-sensitive ASX Announcement for VKA
Current share price for VKA : $0.011 0.001 (10%)+
Announcement
Release
29 Jun 2026 9:23AM
Price at Release
$0.010
Full Release
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Summary
Viking Mines Limited has entered into binding agreements to divest its non-core First Hit Gold Project to First Au Limited for a total transaction value of up to $5 million. The consideration includes $1.2 million in cash, $1.0 million in FAU shares, and up to $2.8 million in performance rights tied to specific exploration milestones. This divestment allows Viking to focus on its flagship Linka Tungsten Project in Nevada. Viking retains potential future value through its equity in FAU, while FAU commits to a substantial drilling investment, ensuring ongoing exploration at no further cost to Viking shareholders.
Key Points
  • Viking Mines Limited divests its non-core First Hit Gold Project.
  • First Au Limited (ASX: FAU) acquires the project for up to $5 million.
  • Transaction includes $1.2 million in cash, $1.0 million in FAU shares, and up to $2.8 million in performance rights.
  • Viking retains exposure to potential future value through FAU shares and performance milestones.
  • FAU commits to a minimum $500,000 drilling within 12 months.
  • Viking focuses on its Linka Tungsten Project in Nevada, USA.
  • Transaction strengthens Viking's balance sheet and strategic focus on tungsten.
  • Completion subject to regulatory approvals and expected within weeks.
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.