Strandline Resources Limited (AU:STA) has released an update.
Strandline Resources Limited has struck a deal to sell its Tanzanian mineral sands projects to Shenghe Resources Holding Co., Ltd for approximately A$43 million, which will bolster Strandline’s liquidity as it advances its Coburn project in Western Australia. The transaction, which is contingent on regulatory and government approvals, will also repay Strandline’s existing debts. Shenghe, a major player in the rare earths and mineral sands industry, aims to fast-track the development of these projects, signaling a win-win for all parties involved, including the Tanzanian government.
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