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Emmerson Resources Limited (ASX:ERM)

ALERT: Price-sensitive ASX Announcement for ERM
Current share price for ERM : $0.305 -0.015 (-4.69%)+
Announcement
Release
24 Mar 2026 8:18AM
Price at Release
$0.320
Full Release
download
Summary
Emmerson Resources Limited has issued an invoice to Tennant Consolidated Mining Group for a Minimum Production Payment of $10.53 million related to its Northern Project Area under the Small Mines Joint Venture, to be paid in three installments. Additionally, the company plans to invoice a similar amount for the Southern Project Area in May 2026. Furthermore, Emmerson is set to be acquired by Pan African Resources through an Australian scheme of arrangement, wherein its shareholders will receive shares in PAN. The board of Emmerson advises shareholders to approve this acquisition in an upcoming vote.
Key Points
  • Emmerson Resources Limited has invoiced Tennant Consolidated Mining Group $10.53 million for the Minimum Production Payment.
  • The payment is related to the Northern Project Area of Emmerson's Small Mines Joint Venture.
  • Payment will be received in three equal installments in April, May, and June 2026.
  • The Southern Project Area's MPP, influenced by gold price movements, will be invoiced in late May 2026.
  • Emmerson Resources has entered an agreement with Pan African Resources to be acquired via an Australian scheme of arrangement.
  • Emmerson shareholders will receive 0.1493 PAN shares for each Emmerson share as part of the scheme.
  • The Emmerson board recommends shareholders vote in favor of the acquisition scheme.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.