Astute Metals NL (ASX:ASE) has entered into a conditional term sheet to acquire 20% stake in Knox Resources Pty Ltd from Greenvale Energy Ltd (ASX:GRV) for AUD 0.25 million on January 29, 2024. Prior to the transaction, Astute Metals NL (ASX:ASE) held 80%.Consideration payable to Greenvale Mining is 10 million ARO shares with 5 million shares at issue price of AUD 0.05 payable on completion and 5.0 million of such shares to be contingent upon Knox achieving certain milestones. The issuance of the above shares remains subject to Astute shareholder approval.

The deal is subject to shareholder approval and regulatory approval.