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Aus Tin Mining Limited ( (AU:C7A) ) has provided an update.
Clara Resources Australia Limited has agreed to acquire 100% of the Hodgkinson Basin Gold Project in Far North Queensland, securing a 265 km² package of three granted exploration permits in a historically high-grade gold district about 90km west of Cairns. The project, which covers more than 13km of a major regional shear zone and benefits from existing road access, includes over 130 historical drill holes and is considered largely underexplored, giving Clara a substantial foothold in a proven gold province. The acquisition will be funded through the issue of 533,333,333 shares and staged cash payments of $1.25 million, subject to shareholder and other customary approvals, and Clara plans a two‑phase exploration program in 2026 aimed at rapidly defining a maiden JORC Mineral Resource while testing additional targets, positioning the company for potential growth alongside ongoing advancement of its Ashford Coking Coal Project.
More about Aus Tin Mining Limited
Clara Resources Australia Limited is an ASX-listed minerals exploration company focused on advancing resource projects in Australia, including the Ashford Coking Coal Project. The company targets underexplored but historically productive mineral provinces with established infrastructure, aiming to create shareholder value through systematic exploration and resource development.
Technical Sentiment Signal: Sell
Current Market Cap: A$3.87M
See more insights into C7A stock on TipRanks’ Stock Analysis page.