TSX-V-listed Namibia Critical Metals has announced the sale of four non-material gold properties in Namibia to Sylla Gold.
Sylla will issue to Namibia Critical Metals three-million common shares at a deemed issuance price of $0.05 a share and make a cash payment of C$100 000.
This move reflects the company’s decision to concentrate fully on its Lofdal heavy rare earths project, with a view to deliver a prefeasiblity study in the second half of the year.
Lofdal is a globally significant deposit of the heavy rare earth metals dysprosium and terbium.
The project is under joint venture agreement with Japan’s Jogmec.