Aus Tin Mining Limited (AU:C7A) has released an update.
Aus Tin Mining Limited has established a $1.1 million debt facility to fund the purchase of the remaining 60% interest in the Ashford Coal Project and for working capital, with strong support from senior management and investors. A $750,000 payment has been made to Savannah Goldfields as part of the staged acquisition, with the total purchase expected to be completed by July 1, 2024. The Ashford Project’s scoping study indicates a promising economic outlook with a potential 12-year mine life, underpinned by a modest capital expenditure and robust coking coal operation.
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