IDA Receives Second Instalment of $25 million from TanzaniaSECOND INSTALMENT OF US$25 MILLION RECEIVED FROM TANZANIA Indiana Resources Limited (ASX: IDA) (“Indiana” or the “Company”) is pleased to confirm that US$25 million in funds have been received by the Claimants’ legal representatives from the United Republic of Tanzania (“Tanzania”) as the second instalment of the US$90 million Settlement Agreement as announced to the ASX on 29 July 2024 [ASX: “US$90million Settlement Agreement with Tanzania”].
The Board is currently planning for a dividend payment to shareholders in December 2024 and further details will be provided in due course. Shareholders are encouraged to ensure that bank account details for their holdings are accurately recorded with Computershare so that payments can be made.
The final instalment of US$30 million is due to be paid on or before 30 March 2025. When that amount is received the Company will make a further announcement on distribution to shareholders in Q2 2025. The final distribution between the Claimants remains under discussion so the Company is not able to confirm a final expected figure at this time.
https://hotcopper.com.au/threads/ann-us-25m-received-from-tanzania.8284629/