17 September 2015
Market Announcements Platform
ASX Limited
Exchange Centre
20 Bridge Street
Sydney NSW 2000
US$500,000 Payment Received from Xtract
Further to the announcement of 14 September 2015, Auroch Minerals NL (ASX: AOU) (Auroch or the Company), is pleased to advise that it has received US$500,000 from Xtract Resources plc (Xtract) in cash pursuant to the revised sale terms for the sale of 100% of Manica Mining Concession 3990C (Agreement).
The Agreement remains conditional upon Auroch obtaining prior consent of the Government of Mozambique through the Ministry of Mineral Resources and Energy to the extent required under the Mozambique Mining Act and other applicable laws relating to the change of control of the Company's subsidiary and communicating such change of control to the Mozambican mining authorities.
Completion of the Agreement is also subject to Auroch obtaining shareholder approval under ASX Listing Rule 11.2 for the sale of the Manica Mining Concession (to be sought at the Company's upcoming general meeting on 15 October 2015) and Xtract obtaining approval for the admission of consideration shares to trading on AIM.
For further information visit www.aurochminerals.com or contact:
Glenn Whiddon
Chairman
Auroch Minerals NL T: +61 8 9486 4036