Consolidated Tin Mines Limited (ASX:CSD) entered into a binding term sheet agreement to acquire Chillagoe Base and Precious Metals Project from Auctus Minerals Pty. Ltd. for AUD 26.5 million on July 13, 2020. Under the terms of consideration, the acquisition price comprises an upfront payment of AUD 18.8 million, net debt which is currently estimated to be AUD 3.7 million and deferred consideration of AUD 4 million. As an advance payment towards the upfront completion payment, Consolidated Tin Mines Limited has paid a deposit of AUD 2 million to Auctus Minerals Pty. Ltd. Consolidated Tin Mines Limited intends to fund the remainder of the upfront payment of AUD 16.8 million through an equity raising. As of February 22, 2021, The Contribution Balance, being the balance of the purchase price payable by Consolidated Tin Mines Limited (ASX:CSD) on Completion of the acquisition, is increased by AUD 1.43 million to AUD 27.93 million. The deposit payable by Consolidated Tin Mines Limited (ASX:CSD) is increased by AUD 0.5 million to AUD 2.5 million. In addition to the Monthly Amount of up to AUD0.25 million per month payable from July 30, 2020 to fund the trading costs of Auctus, Consolidated Tin Mines Limited (ASX:CSD) is to pay an Additional Amount of up to AUD 0.25 per month to fund the actual trading costs of Auctus from December, 2020 and a Supplementary Amount of AUD 0.3 million per month to fund the additional supplementary costs of the Deed Administrators from February, 2021. The transaction is subject to approval by Auctus Creditors at the second Auctus Creditor meeting, Consolidated Tin Mines Limited shareholder's approval and Foreign Investment Review Board Approval. The acquisition is set to deliver immediate, value-accretive growth in Consolidated Tin Mines Limited’s metal production output and resource inventory. As of February 19, 2021, Auctus Creditors approved the deal. The extension to the Long Stop Date for meeting the conditions precedent to the acquisition, which has been extended to April 30, 2021.