Sandfire Resources (ASX:SFR) has finalized a binding agreement to sell the Old Highway Gold Project in Western Australia to Catalyst Metals (ASX:CYL). The transaction, valued at $32.5 million, includes a $2.5 million deposit and $30 million upon completion. Both companies will collaborate on transferring accountability for the DeGrussa aerodrome to Catalyst, while ensuring Sandfire retains access for its operational needs.
Sandfire CEO Brendan Harris highlighted that the sale follows an extensive sales process, increasing the likelihood of the project’s future development and positive outcomes for stakeholders, including traditional owners and the local community. The Old Highway Project, extensively explored by Sandfire during the 2010s, will support rehabilitation costs at the DeGrussa Copper-Gold Mine, now in care and maintenance with progressive rehabilitation planned over the coming decades. This sale allows Sandfire to focus on its core assets while enabling Catalyst Metals to expand its portfolio.
