Myanmar Airways International Company Limited agreed to acquire Bright Mountain Resources Myanmar Ltd from Mallee Resources Limited (ASX:MYL) for $10.2 million on July 24, 2022. Settlement of the transaction will occur in tranches over the next six months. The performance of the transaction is subject to security in the form of a share pledge in favour of Mallee. The share sale agreement contains customary default provisions in the event of a failure to pay. The transaction is expected to be completed on January 17, 2023.

Myanmar Airways International Company Limited completed the acquisition of Bright Mountain Resources Myanmar Ltd from Mallee Resources Limited (ASX:MYL) for $10.2 million on January 17, 2023. which is an estimated completion date.