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Straits
STRAITS RESOURCES LIMITED (ASX: SRQ)
Straits Resources Limited (Straits) is pleased to advise it has signed a binding agreement with Sandfire Resources NL (Sandfire) (ASX:SFR) for the sale of Straits' interests in the Temora and Currumburrama exploration projects in New South Wales for A$2.5 million (payable in Sandfire shares).
The Temora Project is 100% owned by Straits and comprises the tenements EL6845 and EL5864.
The Currumburrama Project, comprising the tenement EL5792, is 100% owned by Straits with Sandfire earning into the tenement through a joint venture.
Completion of the sale is subject to various standard Conditions Precedent including approval by the NSW Minister for Trade and Investment - Resources and Energy.
ENDS
Mr. Andre Labuschagne Executive Chairman
Tel: +61 7 3034 6200, or visit our website at www.straits.com.au
Tel: +61 8 6314 6300
aellis@canningspurple.com.au
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