Emu NL (ASX:EMU) has received the first instalment of $500,000 from the sale of its shareholding in Itakane Trading 243 Proprietary Limited to El Nino Mining Proprietary Limited.
This follows the company’s shareholders approving the $3 million sale on 29 May 2014.
Itakane Trading 243 holds the Superkolong Diamond Project in South Africa.
The second instalment of $500,000 is due on or before 31 July 2014 while the remaining $2 million is payable in quarterly instalments of $500,000 thereafter.
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