16 July 2015
UPDATE ON COYOTE PLANT AGREEMENT WITH ABM RESOURCES NL On 7 July 2014 Tanami Gold NL (ASX:TAM) (Tanami) announced that it had reached agreement with ABM Resources NL (ASX:ABU) (ABM), subject to conditions precedent being met, to lease the Coyote Gold Plant (Coyote) and associated infrastructure. The agreement includes an option for ABM to purchase Coyote, infrastructure and the underlying mineral leases. The agreement also includes pre-emptive rights on the Company’s surrounding exploration licences.
The proposed leasing arrangements and associated options were approved by shareholders at an Extraordinary General Meeting held on 25 August 2014. It was reported the lease term would commence once the conditions precedent had been met or waived. The conditions precedent have now been fully met.
Consequently ABM have now paid $2 million rent for the Initial Term of the Lease which is a period of 1 year from 14 July 2015.
Gerard McMahon Chairman
Ann: Update on Agreement with ABM Resources NL, page-2
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