Duketon Mining Ltd. entered into a binding agreement to sell a package of gold tenements from its namesake nickel project in Western Australia to Regis Resources Ltd. for A$25 million, it said Aug. 26.
Duketon will retain 100% ownership of mining license M38/1252, which contains 71,000 tonnes of nickel metal in JORC-compliant resources, and will keep the rights to nickel for five of the sale tenements.
Duketon granted Regis the gold rights for M38/1252 under a gold rights deed.
Duketon Managing Director Stuart Fogarty said the company will focus on maximizing the value of the known nickel resources and exploring the nickel tenure.
