- Final payment of AUD 1.6 million represents a 20% (AUD 400,000) discount to the original terms of the 2011 Stock Purchase Agreement:
Payment was contingent on ROL reporting an Indicated or Measured JORC resource of 1Moz AuEq – resource upgrade pending.
- Romang Island exploration results continue to demonstrate project's unlocked value.
- Manganese Feasibility Study advancing and to be released by year's end.
- Shareholders should take NO ACTION regarding Stanhill proposal.
Robust Resources Limited (ASX:ROL)
(‘Robust’ or ‘the Company’) is pleased to confirm that it has re-negotiated the final payment for consideration of the Romang Island project, payable under the 2011 Stock Purchase Agreement (‘SPA’), as first announced on 27 April 2010. Under the terms of the SPA, a contingent payment of AUD 2 million was due to be paid to the original vendors when the Company reported a JORC-compliant mineral resource of 1 Moz AuEq in the Indicated or Measured category.
For further information please download PDF attached: