Platina Resources Limited has received US$8 million (~A$12.3 million) in cash from the sale of the Platina Scandium Project to a wholly owned subsidiary of Rio Tinto Ltd (Rio Tinto), less a US$1 million warranty retention payment which is re-payable by Rio Tinto after 30 months if there are no warranty breaches.
Platina may also receive future cash payments totalling US$6 million (~A$9.2 million) subject to Rio Tinto achieving project milestones including granting of a Mining Lease.
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