Stanmore Resources Ltd (AU:SMR) has released an update.
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Stanmore Resources Ltd has finalized the sale of the southern part of its Wards Well tenements to Peabody, with a transaction valued at approximately $136 million plus a conditional royalty stream that could reach $200 million. The company retains significant coal resources in the area and has entered into infrastructure and gas rights agreements that could bolster future project development. These strategic agreements provide Stanmore with operational flexibility and potential revenue from infrastructure sharing and gas commercialization.
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