Cummins Range Pty Ltd acquired the Cummins Range Rare Earth Project from Element 25 Limited (ASX:E25) for AUD 3.1 million on September 27, 2019. As part of consideration, Cummins Range Pty will pay AUD 0.5 million in cash and 13.3 million ordinary shares of RareX Limited at a deemed price of AUD 0.0375 per share. The shares are subject to a six month restriction agreement. In addition to this, within twelve months of the settlement of the acquisition, Cummins Range will pay a deferred consideration of AUD 0.5 million in cash and issue AUD 0.5 million in shares in Sagon or pay AUD 1 million in cash. Also, within 36 months of settlement and subject to the completion of a positive Bankable Feasibility Study, RareX will pay a further deferred consideration of AUD 1 million in cash or Sagon shares or a combination thereof to a total value of AUD 1 million. If the bankable feasibility study is not completed within 36 months of the date of settlement, the further deferred consideration is not payable and RareX will, in lieu, grant E25 a 1% Net Smelter Return Royalty on future production from the Cummins Range project capped at AUD 1 million. Cummins Range Pty Ltd completed the acquisition of the Cummins Range Rare Earth Project from Element 25 Limited (ASX:E25) on September 27, 2019. As reported on October 6, 2020, AUD 1 million has been received in relation to the deferred consideration.