Latitude 66 Limited has completed the sale of the non-core Piastri Project to Capricorn Metals Limited, transferring ownership of the tenements in exchange for 102,172 fully paid ordinary shares.

Latitude 66 originally secured the 15.2 square kilometre Piastri Exploration Licence in August 2025 before classifying the tenement as a non-core asset and entering into a binding sale agreement.

While the initial agreement valued the consideration shares at A$1.5 million based on a 20-day volume weighted average price, appreciation in Capricorn Metals' share price has increased the actual value of the issued shares to approximately A$1.79 million.

“Completing the sale of the Piastri Project to Capricorn Metals is another excellent result in our strategy to unlock value from Latitude's non-core assets. Given the strength in CMM's share price, the total consideration has already appreciated, capturing an further A$290,000 gain for our shareholders.”

— Grant Coyle, Managing Director

The transaction proceeds lift total non-dilutive liquidity secured from recent asset sales to approximately A$5.19 million. Latitude 66 is scheduled to use these funds to support upcoming drilling activities and development studies across its core assets, which include the KSB and PSB projects in Finland and the Laverton Project in Western Australia.

“Combined with our recent royalty portfolio transactions, we have now delivered approximately A$5.19 million in non-dilutive capital to the balance sheet. This significant funding increase allows us to maintain sharp operational focus on accelerating exploration and development studies at our core projects, the KSB Project in Finland and Laverton Gold Project in Western Australia.”

— Grant Coyle, Managing Director

The non-dilutive funding injection strengthens Latitude 66's balance sheet as the company advances its core exploration and development pipeline across Tier 1 jurisdictions in Finland and Western Australia.

Read the full announcement: Latitude 66 waves chequered flag for Piastri