Published by Will Owen, Editor
World Coal,
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“Yari Resources Ltd is significantly expanding its coal resource base in Central Queensland’s Bowen Basin, entering into a binding conditional Share Sale and Purchase Agreement (SPA) to acquire a 100% interest in the Arcadia Coal Project, 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.”
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Courtney Taylor, Managing Director said – “This is about turning Rolleston South from a standalone project into the foundation of a much larger regional opportunity. Arcadia gives Yari additional scale, more geological data and a broader platform to assess long-term development options across the Rolleston coal district. Importantly, the transaction is structured so that the major consideration is linked to project success.”
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Read the full article online via World Coal.