Investigator Resources (ASX:IVR) agreed to sell about 30% of the Mount Sainthill exploration license in the Northern Territory for AU$1.1 million to fluorite explorer and developer Tivan (ASX:TVN), according to a Thursday filing with the Australian bourse.
The company is set to receive AU$400,000 upon signing the agreement, along with additional cash payments on tenement transfer, fluorite resource estimate announcement, and production milestones, the filing said.
Thor Energy (ASX:THR), which holds part ownership of Mount Sainthill, will receive a portion of the consideration, according to the filing.
Shares of Tivan rose nearly 2% in afternoon trade Friday.
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