Tasman Mining Pty Ltd signed an Sale and Purchase Agreement to acquire OceanaGold's interest in the Blackwater project in New Zealand from OceanaGold Corporation for $30 million.

Tasman Mining Pty Ltd signed an Sale and Purchase Agreement to acquire OceanaGold's interest in the Blackwater project in New Zealand from OceanaGold Corporation (TSX:OGC) for $30 million on January 31, 2024. The execution of the SPA follows the receipt of formal notice from Tasman to exercise its exclusive option on Blackwater, which has been held under a Project Deed since July 2018. Under the terms of the SPA, OceanaGold is to receive US$30 million in cash upon closing of the transaction.

The SPA is subject to a number of conditions including regulatory approval and is expected to close in 2024.