Agreement for Sale of Ashford Coking Coal Project
Binding Term Sheet entered into for the proposed staged sale of the Ashford Coking Coal Project
to Aus Tin Mining Ltd (“Aus Tin”
(ASX : ANW).
Consideration to be received to include:
o Laneway being issued a 20% shareholding in Aus Tin (on Aus Tin’s enlarged share capital
after it strengthens its balance sheet by completing a capital raising and other debt for equity
conversions);
o A further $7m payment (consisting of $2m cash and a further $5m in cash or Aus Tin shares
issued at a 20% discount); and
o A retained royalty interest for Laneway to be paid $0.50 per tonne for every tonne of coal
produced from the Ashford project. The current Indicated and Inferred Resource at Ashford
is 14.8 million tonnes1 of in-situ coal.
