DevEx Resources Secures Access Renewal at Northern Territory Project; Shares Fall 3%
MT Newswires Live09:25
DevEx Resources (ASX:DEV) renewed its exploration access agreement covering exploration licenses 24921 and 24922 at its Tin Camp Creek project in the Northern Territory, satisfying the final condition for the release of AU$1.8 million held in escrow from its AU$7.5 million acquisition of the tenements from Alligator Energy (ASX:AGE), according to a Monday Australian bourse filing.
The renewal allows the company to continue exploring the tenements for as long as the exploration licenses remain valid, with the escrowed funds now set to be released to Alligator Energy, the filing said.
DevEx Resources' shares fell around 3% in recent Monday trade.
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