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MOHO RESOURCES LIMITED — Capital/Financing Update 2024
Dec 18, 2024
65359_rns_2024-12-18_efc6a90b-6d16-4604-bc9a-dc777d9aabfe.pdf
Capital/Financing Update
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19 December 2024
Completion Payment Received from Sale of East Sampson Dam
Moho Resources Limited (ASX:MOH) (“Moho” or “the Company”) is pleased to report that
further to its announcement on 4 November 2024, completion of the sale of the East Sampson Dam Gold Project to Mineral Mining Services Pty Ltd has occurred and it has received the Completion Payment of $1,000,000 (“ Completion Payment ”).
Total consideration for the sale is up to $4 million, comprising the $1 million Completion Payment and up to a further $3 million in deferred cash payments contingent on gold production milestones shown in table 1 below.
| Milestones (ounces of gold Produced from any or all of the Tenements) |
Deferred Cash Payment to be paid to the Company |
|---|---|
| 5,000 | nil |
| 10,000 | $500,000 |
| 15,000 | $500,000 |
| 20,000 | $500,000 |
| 25,000 | $500,000 |
| 30,000 | $1,000,000 |
Table 1: Deferred Cash Payment Gold Production Milestones
In alignment with its strategic objectives, Moho has conducted a thorough assessment of its current projects and has opted to realise value through the divestiture of East Sampson Dam. Following this payment, with an improved balance sheet, Moho is now better positioned to pursue new project opportunities that will enhance returns for its shareholders
The Board of Directors of Moho Resources Limited authorised this announcement to be given to ASX.
For further information please contact:
Peter Christie, Chairman
T: (08) 6165 8858
ABN 81 156 217 971 168 STIRLING HIGHWAY, NEDLANDS WA 6009 +61 (8) 6165 8858 ASX: MOH [email protected] www.mohoresources.com.au