Gold producer Pantoro (ASX:PNR) said the sale of the Halls Creek project in Western Australia to Kimberley Minerals Group was completed for a total of AU$8 million, according to a Nov. 29 filing with the Australian bourse.
The consideration will be paid in three tranches over the next 24 months, with a 1% royalty capped at AU$1 million to be imposed 24 months after completion, the filing said.
The company also holds a 15% free carried interest in nickel and platinum group elements on the project tenure, extending to first production, according to the filing.
Shares fell 1% in morning trade Monday.
Price (AUD): $0.10, Change: $-0.001, Percent Change: -1.00%
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