CMM.ASX: Divestment of the Big Springs Gold Project

Divestment of the Big Springs Gold Project

Stock	Capricorn Metals Ltd (CMM.ASX)
Release Time	2 Jul 2026, 9:53 a.m.
Price Sensitive	Yes

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Capricorn Metals to divest Big Springs Gold Project for $26M

Key Points

Capricorn enters into Share Sale Agreement with Sentinel Metals Limited
Consideration includes $8.5M cash, $5.0M worth of Sentinel shares, and $12.5M contingent consideration
Transaction subject to conditions including Sentinel raising $15M and shareholder approval
Advisers: Longreach Capital (financial), Corrs Chambers Westgarth (legal)

Full Summary

Capricorn Metals Ltd has entered into a binding Share Sale Agreement with Sentinel Metals Limited for the divestment of the Big Springs Gold Project in Nevada. The transaction, valued at up to $26 million, includes $8.5 million in cash, $5.0 million worth of Sentinel shares, and $12.5 million in contingent consideration contingent on achieving certain milestones. The deal is subject to conditions including Sentinel raising at least $15 million in new funds and obtaining shareholder approval. Longreach Capital acted as financial adviser and Corrs Chambers Westgarth as legal adviser to Capricorn.

Guidance

Consideration up to $26M, including $8.5M cash, $5.0M shares, $12.5M contingent

Outlook

The transaction is subject to conditions including Sentinel raising $15M and shareholder approval.