Stanmore Resources Ltd (AU:SMR) has released an update.
Stanmore Resources Ltd has sealed a pivotal agreement to bolster its Isaac South project by securing exploration and mining rights adjacent to its existing operations, which is forecasted to enhance project economics and extend operational longevity. The deal demands an immediate US$15 million payment, with a deferred US$20 million on mining initiation, and a potential US$40 million royalty tied to coal prices. This strategic expansion taps into additional low strip ratio coal reserves, promising to double volume and mine life, while leveraging current infrastructure for cost-efficient growth.
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