TNT sells its Tasmanian projects
PERTH (miningweekly.com) – ASX-listed junior TNT Mines has reached a sales agreement with Canadian firm TinOne Resources to divest of its tin/tungsten assets in Tasmania, for A$1.1-million.
TinOne would pay the total consideration over four tranches, with the first A$50 000 payment due on the inking of a definitive transaction, expected within the next 30 days.
Further payments would be due on the six- and 12-month anniversary of the signing, while the final A$500 000 payment will be made in either cash or shares on the 24-month anniversary of the agreement.
Under the terms of the agreement, TinOne would assume all of the ongoing project costs and would keep the licences in good standing from the execution of a definitive transaction until the acquisition has been completed.
TNT executive chairperson Brett Mitchell said on Thursday that the company was pleased to have entered into the agreement with TinOne.
“Once the transaction is finalised, all of the company’s resources will be fully focused on the imminent drilling programme at the Pelley ridge zinc project, in Montana, and the ongoing identification of other complementary assets in North America.”
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation