Bullboard - Stock Discussion Forum Montero Mining and Exploration Ltd V.MON

Alternate Symbol(s): MXTRF

Metals & Mining Industrial Metals & Minerals

Montero Mining and Exploration Ltd. is a Canada-based mineral exploration and development company focused on making mineral discoveries in Chile. The Company's Avispa Copper-Molybdenum Project (Avispa Project) is located in the Atacama region of northern Chile, west of the town of Calama and 220 kilometers north-east of Antofagasta, Chile's largest commercial deep-water port. The project is... see more

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Montero Mining and Exploration Ltd > IDA Receives Second Instalment of $25 million from Tanzania

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Post by astonbay on Oct 28, 2024 10:07pm

IDA Receives Second Instalment of $25 million from Tanzania

SECOND 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/