The Directors of Aus Tin Mining Limited (Aus Tin Mining or the Company) wish to advise that the Company has signed a Heads of Agreement with Ten Mining Pty Ltd (Ten Mining) for the effective disposal of the Granville Tin Mine (Granville) on the west coast of Tasmania. This arrangement supersedes the previous proposed agreement with Ten Mining as outlined in the Company’s announcement of 13 December 2019.
The proposed sale follows the Company’s recent announcement on a farm-in agreement over exploration licences prospective for copper and gold located within the Lachlan Fold Belt in NSW in a move to diversify its exploration portfolio. The Directors are of the view the divestment of Granville will provide the impetus for a clear exploration and development focussed company going forward.
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