Andromeda Metals Ltd (ASX:ADN, OTC:ANDMF) has settled the land purchase agreements for freehold land underlying The Great White Project (TGWP) in South Australia.
This follows binding agreements that were inked with relevant landowners in 2022 for the purchase of freehold land underlying TGWP.
Boundaries now align
Under the terms of the agreements, the private land within TGWP’s mining lease and associated Miscellaneous Purpose Licence (MPL 164) was to be subdivided before settlement, so that existing property boundaries could be realigned to fit the TGWP mine site footprint.
The subdivision process and issuing of titles in line with TGWP mine site footprint recently wrapped up, which allowed the purchase to take place.
CEO and managing director Bob Katsiouleris said: “Working collaboratively with landholders and the local community towards advancing TGWP has always been crucial for our long-term success.
Long-term member of local community
“Ownership of the land underpinning the project is therefore important, as it signifies our commitment to being a responsible landowner and long-term member of the local community.
“With the project expected to expand over time, and numerous adjacent resources and exploration opportunities to build and extend upon the initial 28-year life of mine, Andromeda looks forward to being part of the local community for generations to come.”
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