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Venari Minerals NL (ASX:VMS)

ALERT: Price-sensitive ASX Announcement for VMS
Current share price for VMS : $0.080 -0.015 (-15.79%)+
Announcement
Release
7 Jul 2026 8:16AM
Price at Release
$0.095
Full Release
download
Summary
Venari Minerals NL has entered into an agreement with Alien Minerals Limited to divest its 100% interest in the Georgina Basin IOCG Project located in the Northern Territory, Australia. The transaction aligns with Venari's strategy to streamline its asset portfolio and focus on its flagship Red Mountain Lithium and Critical Metals Project in Nevada, USA. The deal involves a cash payment and shares in Alien Minerals, with the estimated sale price being A$386,000, plus additional tax incentive refunds. Venari will also provide technical services for a fee under a 12-month agreement with Alien Minerals. The transaction is expected to be completed by 31 July 2026, subject to due diligence. This strategic move is expected to enhance shareholder value by concentrating resources on core projects.
Key Points
  • Venari Minerals NL to divest 100% of Georgina Basin IOCG Project
  • Agreement with Alien Minerals Limited for divestment
  • Focus on Red Mountain Lithium and Critical Metals Project in Nevada
  • Sale price estimated at A$386,000 plus tax refunds
  • Technical services agreement with Alien Minerals
  • Transaction expected to complete by 31 July 2026
  • Strategic move to enhance shareholder value
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.