Astron Corporation Limited holds Donald Project mineral tenements through its wholly owned subsidiary Donald Mineral Sands (DMS) Pty Limited.
Astron has executed binding agreements to form a Donald Project Pty Ltd (DPJV) with Energy Fuels (EFI) to develop the Donald Deposit. Under the Venture, Energy Fuels has the right to invest AUD$183 million to earn up to a 49% interest in the Venture. Energy Fuels JV funding has already commenced.
On 15 July 2024, the Earth Resource Regulator has advised that the transfer of the relevant Donald tenements from Donald Mineral Sands Pty Ltd (DMS) to DPJV has been approved. The Astron is continuing to progress the remaining conditions precedent, which are the transfer of Astron’s water rights to the joint venture company and Foreign Investment Review Board approval of the relevant EFI subsidiary’s investment in the Donald Project.
At execution of the Agreement, Astron holds 100% of the shares in DPJV.
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