Ann: Trading Halt, page-21

The halt today is required under the listing rules as a "material transaction" has been entered into.

I.e they have executed the debt funding documentation to purchase the station.


The purchase is actually two parts:

Carhill Contracting.
They have already purchased the mining services business with cash held.
Terms:
Purchase price of $1,000,000.
2 x $25,000 option fees paid extended the contract to 30 April.
Settlement/Completion of contract for $950,000 in 14 days which was concluded mid May.

Tarmoola Station.
Terms:
Purchase price $3,000,000.
2 x $75,000 option fees paid to extend the contract to 30 April.
Settlement the latter of 60 days from April 30 or 60 days from approval of the transfer by the Minister of Lands (WA). So early next week by my reckoning.
Debt funding now agreed and will be circa $2,850,000 being the remaining sum outstanding.

Peretz clearly stated at the AGM that they had sufficient funds following the recent raise to complete the 50,000 M drilling campaign plus finalize the Tarmoola/Carhill purchase. He also stated they had a number of finance offers in front of them at that point.

Details are contained the ASX announcement 21/21/20:

Microsoft Word - Announcement Torian Enters Into Agreement To Purchase Tarmoola Station CS edits v7.docx (asx.com.au)