Aus Tin Mining Limited (AU:C7A) has released an update.
Aus Tin Mining Limited has finalized the sale of its remaining stake in the Ashford Coking Coal Project to Clara Resources Australia Ltd for $3.95 million plus royalties. The completion of this deal, expected by May 22, 2024, will see Aus Tin receiving $3.06 million upfront, 11.1 million Clara shares, and future cash payments tied to project milestones, while retaining a $0.75 per tonne royalty on coal sales. This strategic move allows Aus Tin to focus on its core gold mining ventures while maintaining significant interest in the coal project’s success.
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