GWR Group Limited (ASX:GWR) Completes Sale of Hatches Creek Project
Completion of Sale Agreement
GWR Group Limited (ASX:GWR) has successfully completed the sale of its remaining 80% interest in the Hatches Creek Tungsten Project to Tungsten Mining NL (TGN). This agreement was finalised following previous announcements regarding the transaction.
Consideration Details
As part of the sale, GWR received 107.5 million fully paid ordinary shares in TGN, valued at a deemed issue price of $0.08 per share. Consequently, GWR’s voting power in TGN has now risen to approximately 19.86%.
Future Focus
The company remains committed to the exploration and development of its Prospect Ridge Project. GWR is actively appraising and conducting due diligence on potential acquisitions that could potentially enhance its project portfolio. Shareholders will be updated on any future developments in line with the company’s continuous disclosure obligations.
Executive Comments
GWR Chairman Gary Lyons stated, “We are pleased to have completed the sale of our interest in the Hatches Creek Project for shares in Tungsten Mining. GWR continues to be a supportive shareholder of Tungsten Mining and looks forward to them driving this project forward.”
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