Carnaby sells Tick Hill stockpile

ASX-listed Carnaby Resources has sold the historic Tick Hill tailings stockpile, in Queensland, for A$6-million, retaining full ownership of the Tick Hill project. The consideration from private mining and processing group BIM Metals will consists of A$4-million in cash and a 5% net smelter royalty on all gold sales from the stockpile, valued at around A$2-million at the current gold price.