Gold producer Pantoro (ASX:PNR) said the sale of the Halls Creek project in Western Australia to Kimberley Minerals Group was completed for a total of AU$8 million, according to a Nov. 29 filing with the Australian bourse.
The consideration will be paid in three tranches over the next 24 months, with a 1% royalty capped at AU$1 million to be imposed 24 months after completion, the filing said.
The company also holds a 15% free carried interest in nickel and platinum group elements on the project tenure, extending to first production, according to the filing.
Shares fell 1% in morning trade Monday.
Price (AUD): $0.10, Change: $-0.001, Percent Change: -1.00%
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.