Straits Resources Limited
(ASX:SRQ) has entered into a binding agreement with Sandfire Resources NL
(ASX:SFR) for the sale of Strait’s interests in the Temora and Currumburrama exploration projects in New South Wales.
The consideration is $2.5 million which is payable in Sandfire shares.
Completion of the sale is subject to various conditions precedent, including approval by the NSW Minister for Trade and Investments – Resources and Energy.
Straits Resources reported a net loss of $31.46 million at 30 June.
