Ora Banda Mining announces to sale exploration tenements

Ora Banda Mining Ltd (ASX: OBM) announced the signing of binding documentation for the sale of exploration tenements E16/475, E16/484, E16/483, and E16/486 to Beacon Minerals Ltd for AU$2.5 million, as well as the initial grant of gold and silver rights over the Sale Tenements.

As previously announced on 21 December 2022, the company has secured debt and royalty funding from its major shareholder, Hawke's Point Holdings L.P., consisting of an unconditional and unsecured loan for AU$11 million with a maturity date of 31 December 2023 and a net smelter royalty (NSR) concerning certain gold products at 0.9% NSR with a cap of 900,000oz of pure gold produced.

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