Tigers Realm Coal Limited
(ASX:TIG) has moved to 100 per cent ownership of the Russian-based coal coking projects, Amaan North Project and Project F.
The company says the transaction involved purchasing 20 per cent of the project from its joint venture partners, resulting in full ownership.
Tigers Realm Coal says its joint venture partners will receive up to US$25 million, paid within 20 years in annual payments. It will be calculated as a percentage of gross sales revenue from the project’s coal sales.
The coal coking company says the transaction is consistent with the Heads of Agreement (HOAs) between Tigers Realm Coal and its joint venture partners, which was announced on 29 June.
Shares in Tigers Realm Coal Limited
(ASX:TIG) opened flat at 5.7 cents.
