Consolidated Tin Mines To Acquire Auctus Assets Under New Deal

Consolidated Tin Mines Ltd has entered into a binding term sheet with the administrator of Auctus Minerals Pty Ltd and Auctus Resources Pty Ltd, which is intended to result in the acquisition of 100 per cent of the shares in Auctus, via a Deed of Company Arrangement (DOCA) for a cash and debt free price of A$26.5 million.

Auctus holds 100 per cent of the Chillagoe Base and Precious Metals Project (Chillagoe Project), which is located 200 km west of Cairns in Queensland, Australia. The Chillagoe Project is currently on care and maintenance, and includes the Mungana processing plant, the inactive Mungana mine and the King Vol polymetallic mine.

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