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Fitzroy River Corporation Ltd (ASX:FZR)

ALERT: Price-sensitive ASX Announcement for FZR
Current share price for FZR : $0.225 0.05 (28.57%)+
Announcement
Release
30 Mar 2026 8:54AM
Price at Release
$0.175
Full Release
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Summary
Fitzroy River Corporation Ltd announced an update regarding the Snowy River Gold Project, disclosing that it received a payment from Tasman Mining Limited for the exercise of an option to acquire Fitzroy's royalty over the project. The payment amounted to A$12,265,134 and relates to a variable 1-3% royalty with a buy-out option, calculated from a baseline value adjusted quarterly for CPI. A 'decision to mine' is contingent upon Tasman securing sufficient funds for development and buy-out. Fitzroy is holding the funds in escrow pending further confirmation from Tasman.
Key Points
  • Fitzroy River Corporation Ltd received a payment on behalf of Tasman Mining Limited.
  • The payment of A$12,265,134 was for Tasman exercising an option to acquire Fitzroy's royalty over the Snowy River Gold Project.
  • The Snowy River Royalty is a variable 1-3% royalty with a buy-out option.
  • The buy-out price is adjusted quarterly for CPI from a baseline value of A$11.6m as of March 2024.
  • A decision to mine is determined when Tasman has sufficient funds to complete the project and pay the buy-out price.
  • If the buy-out option is not exercised, Fitzroy is entitled to royalty payments if the project reaches commercial production.
  • Fitzroy is holding the received funds in escrow until further confirmation from Tasman.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.