Aus Tin Mining Limited (AU:C7A) has released an update.
Clara Resources Australia Limited has finalized a deal to fully acquire Renison Coal Pty Ltd, the entity behind the Ashford Coking Coal Project, for $3.95 million and future royalties. The new agreement also includes deferred payments based on project milestones and an increased royalty payment to Savannah Goldfields Limited. This strategic acquisition is set to enhance Clara’s control over the project’s development and offers a more cost-effective purchase than initially proposed.
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