Laneway Resources Ltd. (AU:SVG) has released an update.
Savannah Resources Ltd. is set to finalize the sale of its interest in the Ashford Coking Coal Project to Clara Resources Australia Ltd., with completion payments funded by Clara’s recent asset sale. The deal brings forward value realization for Savannah’s shareholders, who will also retain exposure to the coal project’s future through a 19.5% stake in Clara and a royalty interest. This strategic move allows Savannah to concentrate on its gold mining and exploration endeavors in North Queensland, providing a more focused investment profile for its investors.
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