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Estrella Resources shares dropped as much as 7.41% to A$0.025, marking its sharpest intraday percentage fall since August 31 and hitting a weekly low. The nickel developer will divest its Spargoville Nickel project in Western Australia to Astral Resources for 20 million Astral shares valued at A$3 million.
Estrella Resources NL has entered an agreement to divest 100% of its Spargoville nickel rights to Astral Resources NL. Astral Resources will pay A$3 million for the rights, issuing 20 million Astral shares at A$0.15 per share.
Estrella Resources announced it has divested its Spargoville nickel rights to Astral Resources.