Manas Resources Limited signed an agreement to acquire CDI Holdings Ltd and CDI Mining Holdings Pty Ltd from Resolute Mining Limited for AUD 5 million.

Manas Resources Limited (ASX:MSR) signed an agreement to acquire CDI Holdings (Guernsey) Ltd and CDI Mining Holdings Pty Ltd from Resolute Mining Limited (ASX:RSG) for AUD 5 million on May 21, 2021. Under the terms of the transaction, Manas Resources Limited will pay AUD 1 million cash upon completion of the proposed acquisition as partial reimbursement for past costs incurred and AUD 4 million payable 12 months after gold production from a project development within one of the permits being acquired under the agreement. The transaction is subject to Manas shareholder and ASX approvals, Resolute obtaining approval from its lenders and the exercise or expiry of the Randgold first right of refusal of certain exploration permits.

The acquisition is expected to settle on July 26, 2021.