Elmore Limited (ASX:ELE) executed agreements to purchase the Peko Project in the Northern Territory for AUD 30 million on July 18, 2022. Elmore to guarantee the performance a pre-existing royalty agreement between the ICA group and ICAs retiring shareholders so that they will receive a total of 20,000 ounces of gold at the higher of 900 ounces per quarter, or 25% of production from commencement of production, which must occur within 3 years. Vendor Finance has been provided, ensuring that the purchase is not subject to finance and that the deal metrics can be set now, rather than change with a variable balance sheet of the operations as they ramp up. The binding purchase agreements has now been finalised, subject to Shareholder and any relevant Government Approvals and standard share transfer administration that is normal in such transactions.

Elmore Limited (ASX:ELE) completed the acquisition of Peko Project in the Northern Territory on April 24, 2023.