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Albright Metals (ASX:ABR) is up 17% today after announcing that Catalyst Metals (ASX:CYL) will acquire its Bryah Basin tenement package for $1,000,000 in cash and $800,000 in CYL shares. The deal provides funding for Albright Metals to advance its high-grade gold and antimony project in Canada as well as its remaining Western Australia assets.

The transaction also gives CYL an option to purchase the remainder of ABR’s Bryah Basin tenements, excluding manganese rights held by the Bryah Basin Manganese Joint Venture, for an additional $2,200,000 in cash and/or CYL shares.