REZ Sells Mount Mackenzie Project to QMines for AU$2.485 million to Accelerate Focus on WA Gold Exploration

Resources & Energy Group Limited (ASX: REZ) has signed a binding term sheet with QMines Limited (ASX: QML) to sell its 100%-owned Mount Mackenzie Project in Queensland. The transaction is valued at AU$2.485 million, comprising AU$1.0 million in cash and 33 million QML shares valued at AU$1.485 million (issued at a deemed price of AU$0.045 per share), with the shares subject to a 12-month escrow. This strategic divestment allows REZ to sharpen its focus on the East Menzies Gold Project in Western Australia, its highest-priority asset. The sale will bolster REZ’s balance sheet, enabling accelerated drilling, feasibility studies, and potential new growth initiatives. For QMines, acquiring Mount Mackenzie complements its Mt Chalmers Project and significantly enhances its portfolio of advanced gold and copper projects in Queensland.

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