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Emu receives first instalment from sale of South African diamond project

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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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Price: 0.046 AUD

ASX:EMU
Market: ASX
Market Cap: $13.33 m
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