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Tyranna Resources Limited ( (AU:TYX) ) just unveiled an announcement.
Tyranna Resources has moved to acquire the remaining 20 per cent of Angolan Minerals Pty Ltd, taking its ownership to 100 per cent of the vehicle that holds the Muvero lithium and caesium prospect in Angola. Management says full control is aimed at simplifying future commercial arrangements and giving former minority holders a broader exposure to Tyranna’s portfolio.
The deal will be executed in two tranches and paid in scrip, with sellers to receive 150 million new Tyranna shares and 225,000,005 options exercisable at $0.006 over four years. On completion of the second tranche, Angolitio will also grant a 0.75 per cent gross revenue royalty over specified areas of the Angolan tenement to Australian Angolan Resources, while the final stage remains subject to ASX and shareholder approvals.
More about Tyranna Resources Limited
Tyranna Resources Limited is an Australian mineral exploration company focused on securing demand-driven metals in Angola. Through its subsidiary Angolan Minerals and underlying Angolitio vehicle, the company is targeting lithium and caesium at the Muvero prospect under an Angolan prospecting licence, positioning itself in critical battery minerals markets.
Technical Sentiment Signal: Sell
Current Market Cap: A$10.1M
For an in-depth examination of TYX stock, go to TipRanks’ Overview page.