Focus Minerals Limited
(ASX:FML) has sold The Mount, an underground mining project, to Lukah Mining.
Focus deemed the site non-core due to its distance from core operations, saying its tonnage potential does not meet company targets.
The West Australian based gold producer says the sale will aid the rationalisation of its tenement holdings.
The company plans to focus on its exploration and development efforts for assets that have the greatest potential.
Focus Minerals recorded a net loss of $133 million for the half year ended December 2013.
