Indiana Resources (ASX:IDA) confirmed the receipt of the final $30 million tranche from the Tanzanian government, completing the $90 million settlement, according to a Monday filing with the Australian bourse.
The funds will be reviewed for shareholder return, with the company targeting a capital return of up to AU$32.4 million, pending tax approval and regulatory clearance, before June 30, the filing said.
The company said 18% of the settlement proceeds would be held in reserve until the dispute involving Loricatus Resource Investments is resolved.
Shares of the company fell almost 3% in recent Monday trade.
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