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Tyranna Resources Limited (ASX:TYX)

ALERT: Price-sensitive ASX Announcement for TYX
Current share price for TYX : $0.003 -0.001 (-16.67%)+
Announcement
Release
7 Jul 2026 9:31AM
Price at Release
$0.003
Full Release
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Summary
Tyranna Resources Limited announced the sale of its Namibe Lithium and Caesium Project in Angola through its subsidiary Angolan Minerals. The project is being sold to Sinomine Resource (Guangdong Hengqin) Supply Chain Co., Ltd for US$1.44 million. This transaction is contingent upon regulatory and shareholder approvals, with a General Meeting scheduled for 7 August 2026. The completion deadline is set for 15 August 2026, ensuring the transaction aligns with necessary legal and corporate requirements. Tyranna intends to apply the proceeds from the sale to its Chinguar Gold Project and other potential acquisitions, marking a strategic shift to explore other opportunities within Angola.
Key Points
  • Tyranna Resources Limited has entered into a binding Share Purchase Agreement (SPA) with Sinomine Resource (Guangdong Hengqin) Supply Chain Co., Ltd for the sale of its subsidiary's interest in the Namibe Lithium and Caesium Project.
  • The total cash consideration for the transaction is US$1.44 million, approximately A$2.07 million.
  • The transaction is subject to customary regulatory and corporate approvals, including those from the People's Republic of China (PRC) and shareholder approval as per ASX Listing Rule 11.2.
  • Tyranna will hold a General Meeting on 7 August 2026 to approve the resolutions related to this transaction.
  • The funds secured from this sale will be applied to Tyranna's recently acquired Chinguar Gold Project and further acquisitions.
  • Sinomine has been a funding partner for Tyranna, making it a natural buyer for the project.
  • Completion of the transaction is conditional upon regulatory approvals and satisfaction of certain conditions by 15 August 2026.
  • There is a withholding mechanism in place for potential Angolan/Mauritian withholding taxes.
  • The transaction includes the sale of Angolan Minerals’ 90% interest in AM Mauritius, which holds the Prospection Title for the Namibe Project.
  • The project sale enables Tyranna to focus on other opportunities in Angola.
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.