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Katoro Gold said it had agreed to sell its Imweru gold project in Tanzania to Lake Victoria Gold for $1.0m plus royalties.
The company would earn a 1.5% net smelter royalty on all future gold production from Imweru.
'The board believes that the disposal is an important step for the company, as it provides greater certainty of the ability for Imweru to be brought into production,' executive chairman Louis Coetzee said.
At 1:24pm: (LON:KAT) Katoro Gold Mining Plc share price was +0.2p at 1.6p