Adelong Gold Finalises Sale of Challenger Mines Stake While Retaining Royalty Upside
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Adelong Gold Limited has finalized the sale of its 49% stake in Challenger Mines Pty Ltd to Great Divide Mining Limited, receiving 10 million GDM shares. The sale concludes the Challenger joint venture, with Adelong retaining a 1% net smelter return royalty on future gold production, capped at 125,000 ounces. This move allows Adelong to focus on its Victorian gold and Brazilian lithium projects while maintaining exposure to Challenger's production potential. The current analyst rating for Adelong Gold stock is a Hold with a price target of A$0.01.
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