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Moho Resources NL (ASX:MOH)

ALERT: Price-sensitive ASX Announcement for MOH
Current share price for MOH : $0.008 0.005 (166.67%)+
Announcement
Release
30 Apr 2025 12:44PM
Price at Release
$0.003
Full Release
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Summary
Moho Resources NL announced a variation to the Sale and Purchase Agreement for the Empress Springs Project, originally executed with North West Tin Pty Ltd (NWT) in December 2023. The variation amends the payment terms, reducing the initial cash payment to $125,000 (from $300,000), with the remaining $175,000 deferred to be paid upon successful granting of exploration permits and transfer of tenements. The agreement now includes an extension of time for meeting key conditions precedent, such as FIRB approval and the transfer of tenements, and clarifies that if these conditions are not met, the agreement may be terminated with all rights reverting to NWT. The document also highlights Moho's exploration strategy for Empress Springs, the importance of these changes for preserving capital, and the ongoing commitment to progressing exploration activities at the project.
Key Points
  • Moho Resources NL announced a variation to its Sale and Purchase Agreement with North West Tin Pty Ltd for the Empress Springs Project.
  • The initial cash payment under the agreement has been reduced from $300,000 to $125,000, with the balance of $175,000 to be paid upon the grant of exploration permits and tenement transfer.
  • Conditions precedent, including FIRB approval and tenement transfers, are granted a time extension.
  • If the conditions precedent are not satisfied within the extended period, the agreement can be terminated with all interests reverting to North West Tin Pty Ltd.
  • The variation supports Moho's strategy to preserve capital while advancing exploration activities at Empress Springs.
  • Moho remains committed to progressing the exploration and development of the Empress Springs Project under the revised agreement.
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.