Australian company Strickland Metals Limited is turning its focus to gold exploration in Serbia after completing the sale of its Yandal gold project in Western Australia. Earlier in August, the company announced a major new discovery at the Kotlovi site within the Rogozna project.
The Yandal project was sold to Gateway Mining for $45 million. The deal, finalized on June 30, includes 1.5 billion convertible preference shares of Gateway. Strickland plans to distribute 80 percent of these shares to its shareholders, which will convert into common shares after distribution on August 26. The company will retain a 15.7 percent stake in Gateway, roughly 300 million shares.
According to The Sydney Morning Herald, the transaction allows Strickland to realize the value of Yandal’s total resources of 8.17 million tonnes of ore with an average grade of 1.52 grams of gold per tonne. The company can now fully dedicate its exploration efforts to its Rogozna polymetallic project in Serbia, which contains significant amounts of gold and copper, as well as notable quantities of zinc, silver, and lead.
Strickland Metals CEO Paul L’Erpinier described Rogozna as a world-class asset with a substantial resource of 7.4 million tonnes of gold equivalent, offering exceptional potential for growth and further discoveries.
In early August, the company announced a major new discovery at the Kotlovi site, where the first well of 2025 revealed a 277.3-meter gold vein averaging 1.3 g/t gold equivalent, beginning at a depth of 337.4 meters. A higher-grade section of 4.4 g/t gold was identified at 349.4 meters, highlighting Kotlovi’s potential as a significant part of Rogozna. Mineralization has been confirmed along a 200-meter strike and remains open in all directions.
Currently, eight diamond drills are operating at Rogozna. One drill targets extensions at Kotlovi, while the others focus on Jezerska Reka, Obradov Potok, Gradina, and the main resource at Šanc.
Strickland Metals purchased the Rogozna project last year, investing $37 million, and continues to advance its exploration efforts following the sale of Yandal.
