Moho Resources (ASX:MOH) executed a binding sale and purchase agreement with Qld Aus Graphite to sell the Empress Springs project in Queensland for a total consideration of about AU$1.3 million, according to a Monday Australian bourse filing.
The deal consists of an initial cash payment of AU$258,000 upon completion, followed by AU$1 million in deferred cash payments 12 months post-completion, the filing said. Upon completion of the transaction, the company will receive a 1% net smelter royalty on the project.
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