Astro Resources NL (ASX:ARO) agreed to acquire remaining 80% in Jack Track tenement in Australia from Iluka Resources Limited (ASX:ILU) for AUD 0.7 million on September 27, 2021. Under the terms, consideration will include 1% royalty on gross revenue with the only deduction for Goods and Services Tax for any Heavy Mineral concentrate or saleable product. Funding of the Acquisition and the work outlined above will be covered by Astro's existing cash reserves. A sale and purchase agreement is subject to customary terms and conditions. Completion is to occur upon Ministerial consent. As on September 27, 2021, the board of Astro approved of the transaction.

Astro Resources NL (ASX:ARO) completed the acquisition of the remaining 80% in Jack Track tenement in Australia from Iluka Resources Limited (ASX:ILU) on October 15, 2021. As of October 26, 2021, Astro Resources NL announce that following the receipt of Ministerial Consent on October 14, 2021, the acquisition is now complete and all terms of the Acquisition have been met.