Metalstech (MTC.AX) continues to work on spinning out its Canadian lithium assets in Winsome Resourrces, and closed the royalty sale earlier this month. Metalstech received about A$6.65M from the previously announced sale of a Gross Revenue Royalty to Lithium Royalty Corp, which is acquiring a 3-4% GRR on the lithium assets.

This transaction boosts Metalstech’s own cash position to about A$6.8M which puts it in an excellent position to continue its exploration activities on the flagship Sturec gold project in Slovakia where it recently released an updated resource estimate containing about 1.5 million ounces of gold. Drilling at Sturec should restart shortly, while Metalstech also mentions the scoping study works will be accelerated. Meanwhile, the metallurgical test program is in full swing, and the outcome will be very important for the economic study, which could be expected before the end of this year.

Disclosure: The author has no position in Metalstech. Metalstech is a sponsor of the website. Please read our disclaimer.

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