Clara Resources' Option Agreement for Land Acquisition

Clara Resources Limited (ASX:C7A) has announced the signing of an Option Agreement with the owners of Strathnairn, a 147Ha property adjacent to the development tenement of the Ashford coking coal project. The agreement includes a Call Option and a Put Option, along with annual option fees and predetermined purchase price upon exercise. Clara Resources is also planning to obtain an ancillary services mining lease over the Strathnairn property to create an efficient location for mining services and support infrastructure.

Executive Commentary on Land Acquisition

We are pleased to have secured the Option Agreement for the acquisition of Strathnairn, which strategically positions us for the development of the Ashford coking coal project. This agreement provides us with the flexibility to exercise the Call Option and proceed with the acquisition once all necessary mining leases and environmental consents are in place. Additionally, the planned ancillary services mining lease over Strathnairn will enable us to optimize the location for essential mining infrastructure, contributing to a more efficient mine plan.

Summary of Clara Resources' Land Acquisition Announcement

Clara Resources (ASX:C7A) has successfully entered into an Option Agreement to acquire the strategically located Strathnairn property, adjacent to the Ashford coking coal project. The agreement includes provisions for both Call and Put Options, annual option fees, and predetermined purchase price upon exercise. The company also intends to obtain an ancillary services mining lease over the property, aiming to create an efficient location for essential mining services and support infrastructure. This strategic move aligns with Clara Resources' commitment to optimizing its operational footprint and sets the stage for the future development of the Ashford project.