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Finance Investment, Oil Mining Resources

Cauldron Energy (ASX:CXU) – COMPLETION OF SALE OF BLACKWOOD GOLD PROJECT

Cauldron Energy Limited (ASX:CXU) < 1 mins read

Cauldron Energy Limited (Cauldron or the Company) (ASX: CXU) is pleased to announce the successful completion of the sale of its 51% interest in the Blackwood Gold Project in Victoria. This significant transaction underscores the new management's commitment to executing its strategic turnaround of Cauldron.

Key Highlights:

  • The sale of Cauldron’s 51% interest in the Blackwood Gold Project has been finalized.
  • This move exemplifies the new management's dedication to delivering on its strategic objectives.
  • The sale allows Cauldron to channel its resources and focus on projects that align with its revamped strategy. These include:
    • The Melrose Nickel-Copper-PGE Project, where the company has secured a substantial stake in the highly sought-after West Yilgarn Craton of Western Australia.
    • The Yanrey Uranium Project in Western Australia, which is home to the Bennett Well Uranium Deposit, recognized as one of the world's largest undeveloped uranium deposits.
    • An ongoing review of potential project opportunities in prioritized commodities.
  • Cauldron is also actively exploring various options concerning its sand project interests, which encompass potential divestment, joint ventures, and/or sales of bulk material.

For a detailed account of the sale and its conditions, please refer to the Company’s ASX Announcement dated 5 September 2023, titled “Sale of Blackwood Gold Project.”

Financial Details: The Company has confirmed the receipt of $200,000 in cash from the sale of its 51% stake in the Blackwood Gold Project. An additional sum of $100,000 is expected to be received by no later than 25 September 2024.

 


Contact details:

Jane Morgan

jm@janemorganmanagement.com.au

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