Bathurst Resources Limited entered into an agreement to acquire Tenas Coking Coal Project, comprising the Telkwa Metallurgical Coal Complex, in British Columbia from Telkwa Coal Limited for $10.3 million.

Bathurst Resources Limited (ASX:BRL) entered into an agreement to acquire Tenas Coking Coal Project, comprising the Telkwa Metallurgical Coal Complex, in British Columbia from Telkwa Coal Limited for $10.3 million on September 5, 2023. The consideration includes upfront payment of $2.33 million at closing, payment of $1 million in 45 days after closing, payment of $4 million upon receiving all final permits to develop, construct and operate the Tenas Project mine and payment of $3 million on the first anniversary of receiving all final permits. The transaction is subject to regulatory approvals and third party approvals.