Moho Resources has announced the sale of its Empress Springs Project in western Queensland to privately held Qld Aus Graphite, marking a strategic move to streamline its asset base. The Empress Springs Project, an early-stage exploration asset spanning over 3,400 square kilometres, is located 25 kilometres south of Croydon in Queensland.

The sale follows the execution of a binding sale and purchase agreement between Moho Resources and Qld Aus Graphite. Under the terms of the agreement, Moho will receive a total consideration of up to around $1.257 million, which includes an initial payment of $257,000 in cash upon completion of the transaction. The deal is expected to be finalized within the next 10 days.

Moho Resources explained that the decision to sell the Empress Springs Project is in line with its strategic objectives, as the remote tenements involved in the project come with high exploration costs that do not align with the company’s financial capacity. The sale enables Moho to reassess its project portfolio, optimize its resources, and focus on higher-value opportunities moving forward.

In addition to the sale proceeds, Moho will retain a 1% net smelter return royalty on the Empress Springs Project area, which will provide ongoing financial upside should the project be successfully developed by Qld Aus Graphite. This royalty ensures that Moho maintains a stake in any future production from the site.

The Empress Springs Project has been seen as a non-core asset for Moho Resources, which is a diversified mineral explorer with a broad portfolio of assets across Australia. The company has a strong focus on high-potential projects in gold, nickel, copper, platinum group metals, and rare earths. By divesting the Empress Springs Project, Moho Resources is strategically refocusing its efforts on assets that better align with its growth strategy and financial goals.

The decision to offload Empress Springs is part of Moho’s broader approach to optimizing its portfolio. As the company continues to evaluate and review its existing projects, it remains committed to discovering and developing high-value mineral assets that offer strong long-term growth potential. The proceeds from the sale will contribute positively to Moho's balance sheet, providing additional capital to reinvest in its key projects and expand its exploration activities.

Moho Resources' sale of Empress Springs underscores its ongoing commitment to creating shareholder value through a disciplined approach to portfolio management. As the company progresses with its focused exploration strategy, it is well-positioned to capitalize on new opportunities within the Australian mining sector, continuing its mission to be a leader in the discovery and development of valuable mineral resources.