Expanding Rolleston district position & doubling resource base
Yari Resources Limited (ASX: YAR) (“Yari”, “YAR” or “the Company”) is significantly expanding its coal resource base in the world-class Bowen Basin, entering into a binding conditional Share Sale and Purchase Agreement (SPA) to acquire a 100% interest in the Arcadia Coal Project (Arcadia or the Project) in Central Queensland’s Bowen Basin, via the acquisition of 100% of the issued capital of Northern Comet Resources Company. Completion is subject to satisfaction of conditions precedent, including Yari shareholder approval.
The acquisition will effectively double Yari’s JORC Mineral Resource Estimate to more than 500 million tonnes, advancing the Company’s strategic district-scale consolidation in the Rolleston coal district amid rising competition for resources within the tier-one Basin.