Meeka Metals Limited completed the sale of Gecko North Project

Meeka Metals Limited (ASX: MEK) announced that it had exercised the option agreement to sell the Gecko North Project to an unrelated party, LithGold Minerals Ltd (formerly Origin Gold Mines Ltd). The total value of the transaction is AU$230,000 in cash, with a 1.5% net smelter return royalty over all minerals extracted from the property. The company has received AU$130,000. An additional payment of AU$100,000 is to be received in February 2023.

Meeka Metals Limited has a clear strategy of focused and disciplined capital allocation, and the sale of its Gecko North Project is in line with that strategy, freeing up capital to advance drilling and development activities within its portfolio of high-quality 100% owned projects across Western Australia. Leverage to the upside at Gecko North is maintained through a royalty over the property.

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