daytrading july 23 morning, page-123

PERTH, WESTERN AUSTRALIA: Anglo Australian Resources NL (ASX AAR) (“Anglo” or the “Company”) is pleased to announce that it has entered into an agreement with Paylode Pty Ltd, a wholly owned subsidiary of Silver Lake Resources Limited, to purchase Paylode’s 50 percent interest in granted Exploration Licence 69/1677 in the West Musgrave province of Western Australia.
The purchase of Paylode’s interest in E69/1677 gives Anglo a 100% interest in the licence covering 217 square kilometres of unexplored ground in an area highly prospective for nickel, copper, Platinum Group Element’s (PGE), gold and iron.
In consideration of the purchase, Anglo has agreed to pay Paylode a Royalty of 1.5% of the Net Smelter Return on any minerals derived from the tenement.

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