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S2 Resources Limited (ASX:S2R)

ALERT: Price-sensitive ASX Announcement for S2R
Current share price for S2R : $0.065 -0.018 (-21.69%)+
Announcement
Release
30 Oct 2025 8:20AM
Price at Release
$0.083
Full Release
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Summary
S2 Resources Limited has announced the sale of its Fosterville exploration licence EL007795 to Agnico Eagle Mines Limited for A$17 million in cash. Additionally, S2 will undertake a strategic placement of shares to Agnico Eagle, raising a further A$3 million, resulting in Agnico becoming a 5.6% shareholder of S2. This transaction will leave S2 with a total cash reserve of A$23.1 million, plus investments valued at A$5.33 million, positioning it as a well-funded explorer. The completion of the tenement sale is contingent upon Victorian Government approval and is expected to be finalized within two months. This deal allows S2 to pursue various exploration opportunities without immediate financial strain, particularly in projects like Warraweena in New South Wales and Jillewarra in Western Australia.
Key Points
  • S2 to sell Fosterville exploration licence EL007795 to Agnico Eagle for A$17 million.
  • S2 to raise an additional A$3 million through a share placement to Agnico Eagle.
  • Agnico Eagle becomes S2's fourth largest shareholder with a 5.6% stake.
  • S2's total cash reserves will be A$23.1 million post-transaction.
  • Completion of the sale is subject to Victorian Government approval.
  • S2 aims to explore Warraweena and Jillewarra projects without near-term financial pressure.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.