Astral Resources NL Acquires Tenure Rationalisation From WIN Metals for AU$9.1 Million; Shares Rise 3%

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Astral Resources NL Acquires Tenure Rationalisation From WIN Metals for AU$9.1 Million; Shares Rise 3%

MT Newswires Live09:14

Astral Resources NL (ASX:AAR) entered into a transaction with WIN Metals to rationalize contiguous tenure holdings and mineral rights over a portion of WIN's (ASX:WIN) Mt Edwards nickel project, with total consideration of about AU$9.1 million plus goods and services tax, according to a Monday Australian bourse filing.

The company said the consideration comprises about AU$8.1 million plus tax payable on completion, scheduled for on or before Oct. 5, and AU$1 million plus tax payable following registration of the transfer of mining lease M15/96 to Astral.

Key aspects of the agreements include the transfer of tenure and all mineral rights excluding lithium rights on five mining leases and a miscellaneous license from WIN to Astral, transfer of nickel rights on a separate lease, and a mining rights agreement over several leases along with the transfer of gold rights over three leases, the filing added.

Astral Resources' shares rose 3% in recent Monday trade, while WIN Metals rose 24%.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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