Andromeda Metals Ltd has enhanced its bank balance by A$950,000 after selling the shares in Cobra Resources PLC received from the sale of its remaining 25% interest in the Wudinna Gold Project.
The company has today advised that the 52,010,000 Cobra shares were sold via an off-market transfer for total proceeds of A$950,000.
READ: Andromeda Metals completes sale of interest in Wudinna Gold Project
In April 2024 Andromeda completed the sale of its 25% stake in the Wudinna Gold Project to Lady Alice Mines Pty Ltd (LAM) and Cobra Resources Plc for A$500,000 in cash and Cobra shares in line with an earlier agreement.
These shares were held in escrow and Andromeda has now sold them after notifying Cobra and allowing Cobra the opportunity to effect the sale via its brokers at market price.