Acquisition of Benmara Project Tenements Completed

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Highlights

Completion of acquisition of Benmara Project Tenements EL31287, EL32229 and EL33059 from Cedar Resources

Transaction satisfies a key Condition Precedent for the OZ Minerals Limited Farm-in agreement:

  • OZL can earn a 51% interest by spending $4m over five (5) years
  • RML may retain 49% interest by electing to participate from year six (6)
  • If RML elects not to participate , OZL has the option to earn a 75% interest by sole-funding
  • and delivering a Positive Final Investment Decision to Mine
  • Resolution remains Operator during the Earn-in period with technical input from OZL

OZ Minerals is undertaking the final steps of the due diligence process

Heritage surveys of proposed drill sites to commence in September 2022. 

 

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