Exploration firm Hannans Reward is planning to offload its nickel sulphide portfolio in Western Australia to focus on the development of its Kiruna iron project in Sweden.
Hannans’ WA porftfolio comprises the Forrestania project east of Hyden, the Lake Johnston project west of Norseman and the Queen Victoria Rocks project near Coolgardie.
Chaiman Richard Scallan said the company would commence discussions with potential investment partners to further develop and enhance the projects.
He said funds raised through the sale of the assets would allow the company to allocate a larger proportion of funds to exploration and development in Sweden and Norway.
“Our strategy is being shifted away from purely greenfield exploration to a balance between exploration and development,” Mr Scallan said.
“Our main focus is on developing the Kiruna Iron project in Sweden. Hannans now has an appropriate balance between exploration, and development in copper, gold and iron which positions the company for future growth.”