royalty buy-back

Great result for the shareholders in my opinion.

Well done CCU managment!


Cobar Consolidated Resources Limited (ASX:CCU) announced today that it had agreed to buy back the royalty payable to CBH Resources Ltd under the Wonawinta Joint Venture Agreement for $1.7 million.

Under the terms of the Joint Venture Agreement, as a result of Cobar?s expenditure, CBH?s interest had been diluted to a royalty. Concurrent with royalty buy-back the Company has executed a deed to transfer CBH?s remaining interest in the joint venture tenements and terminate the joint venture.