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BRIEF-Talga Resources executes option agreement for the sale of Australian gold assets

Published 12/08/2015, 10:24 am
Updated 12/08/2015, 10:26 am
© Reuters. BRIEF-Talga Resources executes option agreement for the sale of Australian gold assets
TLG
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Aug 12 (Reuters) - Talga Resources Ltd TLG.AX :

* Talga executes option agreement for the sale of three of its four Australian gold assets to beatons creek gold pty

* Sale of talga's Australian gold projects TLG.AX

* Says Talga retains 100% equity in the projects until the purchase price is paid in full

* Says option has been executed by both parties and a non-refundable $50,000 deposit has been received by Talga

* Will be due 2.25% gross royalty payable on net smelter return of minerals extracted, and 1.5% in perpetuity thereafter

* Proceeds from sale and any royalty payments will be applied directly to talga's graphite and graphene developments in Sweden

* Says total sale price is up to A$1.0 million in cash and a royalty on production

* Source text for Eikon ID:nASXbqMvSp

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