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Regener8 Resources NL (ASX: R8R) (Regener8 or the Company) is pleased to provide an update regarding the East Ponton Future Metals Project (Project).
On the 6th of July 2023 the Company entered into a 12-month option to acquire the Grasshopper and Seven Sisters prospects from Beau Resources Pty Limited, located within the East Ponton Project (ASX Announcement 6 July 2023). By mutual agreement the parties, have agreed to extend the term of this option agreement by a further 6 months providing the Company to the 4th of January 2025 to exercise the option.
All terms of the option agreement remain the same and in place, as previously announced. No additional consideration is payable to Beau Resources Pty Limited for the grant of the extension of the option.
The Company is in the process of finalising land access and Heritage Agreements for the Project with the relevant Native Title party, in anticipation of undertaking on-ground initial exploration across the Project on exciting targets identified at Grasshopper and Hatlifter (ASX announcements 19 September 2023 and 23
October 2023).
Regener8 looks forward to updating the market with newsflow over the coming months.