VSA Morning Miner, 02/09/19
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Tectonic Gold (AQSE:TTAU)
Tectonic Gold (AQSE:TTAU) has announced the divestment of the company’s 2.5% royalty over the Graphmada graphite mine in Madagascar for a total consideration of cA$0.5m settled in cash and convertible notes in SilverStream SEZC; the acquirer.
The result of the sale will strengthen TTAU’s cash position, without dilution, and enable the company to deploy capital into the core gold exploration assets in Australia. TTAU remains focused on the potential for multimillion-ounce Intrusive Related Gold Systems within the properties and we believe that this announcement will enable the company to continue to make progress.
We reiterate our Speculative Buy recommendation.
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