Corella Resources entered into a contract with CBH Group

On February 9, 2023, Corella Resources Ltd (ASX: CR9) announced that it has entered into a binding contract with grain supply chain co-operative, the CBH Group to buy the Tampu grain bin situated ~2.5 km from the company’s flagship Tampu kaolin deposit. The facility is critical for the future mining operations and will play a pivotal role.

The contract for the acquisition was made unconditional after a successful due diligence period with a cash consideration of CBH $255,000 for the free-hold property and is anticipated to settle in Q3FY23. The Tampu grain storage facility consists of a 3,750 m sq. storage shed, a road loading facility, a weighbridge, a site office with accommodation, and a nearby Telstra mobile tower.

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