Platina Resources completes US$14 million sale of Owendale project

Platina Resources Limited has completed the sale of its Owendale Scandium Project in New South Wales following a final US$2 million payment from Rio Tinto. The total proceeds from the transaction amount to US$14 million.

Managing Director and CEO Dr. Paul Polito stated that the completed sale provides the company with enhanced financial flexibility to fund exploration activities while maintaining a robust balance sheet. The company intends to focus immediate exploration efforts on its gold portfolio in Western Australia’s Laverton district, specifically targeting the Mt McKenna, Sunrise Bore, and Mt Morgans South projects.

In addition to its current gold projects, Platina Resources is evaluating potential acquisitions and joint venture opportunities to expand its portfolio.