Farmin agreement!2 Feb 2024 08:04
Completion of the Farmin Agreement announced in October 2023 is subject to government approval of the proposed change of Operator and transfer of interest. The farminee, a subsidiary of Greenvale Energy Limited (ASX:GRV), has advised that they have received the Stamp Duty assessment and paid the amount due. The next step is Ministerial approval, which is expected to proceed now that stamp duty has been paid. The Company is not in control of the timing of Ministerial approval, but based on progress so far anticipates Completion to occur in the near future. The amended agreement clarifies that Mosman is responsible for costs until Completion, when Mosman will be re-imbursed for costs and paid $160,000.