Asra Minerals seeks to sell Tarmoola pastoral lease to Red 5 to boost cash balance, ASR has extended its due diligence with Red 5 as negotiations for the sale of the Tarmoola pastoral lease in Western Australia continue, according to a Monday filing to the Australian bourse.
Asra bought the 173,000ha Tarmoola Station, including 700 head of cattle and associated machinery, for $4 million in 2021. The station is 25km north-west of Leonora. The southern end of the station hosts parts of Asra's flagship Mt Stirling project, as well as Red 5's King of the Hills gold mine.
Red 5 paid a AU$250,000 deposit for exclusivity until July 31. The period has been extended to Aug. 16, the filing stated.
Ann: Investor Presentation - Diggers and Dealers, page-94
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