Comet Resources (ASX: CRL) has entered into an agreement to sell its Browns Reef lead-zinc-copper-silver project in New South Wales to Kidman Resources (ASX: KDR) for $500,000.
Proceeds from the sale will be used to advance Comet’s current projects and fund new project generation and acquisition.
The company is currently looking for a joint venture partner for its Utopia gold project in Western Australia and is planning an exploration project to locate and redrill a historic hole that intersected coal, lignite, bituminous and carbonaceous material.
Work is also continuing to attempt to commercialise the use of micro-organisms isolated during research, which have been shown to significantly enhance the degradation and remediation of oil wastes.
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