21 APRIL 2016Bauxite Resources Limited Press Release
Bauxite Resources announces completion of Yankuang transaction with sale of Fortuna
Edited by : AL CIRCLE
1 min read
Bauxite Resources Limited announced that it has now received from Mercator Metals Pty Ltd a duly executed Deed of Variation & Assumption which was required to complete the assignment of the bauxite rights held for the Fortuna deposit to Yankuang Resources under the Sale & Purchase Agreement dated 30 November 2015.
As a consequence, the royalty payable by Yankuang to BRL will be on the first 100 million tonnes of bauxite at a rate of 0.9 per cent of the FOB price (or FOB price equivalent) (presently estimated to be worth approx. 50 cents per tonne) from the sale of bauxite mined from the Royalty Area comprised by the Felicitas and Fortuna tenements.
As a consequence, the royalty payable by Yankuang to BRL will be on the first 100 million tonnes of bauxite at a rate of 0.9 per cent of the FOB price (or FOB price equivalent) (presently estimated to be worth approx. 50 cents per tonne) from the sale of bauxite mined from the Royalty Area comprised by the Felicitas and Fortuna tenements.
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