Big Star Energy Limited (ASX: BNL) leases a further 59,510 gross and 14,877 net acres across the Company’s prospect and lead portfolio in Colorado, USA.
- The new lease would be for an initial tenure of 5 years with an embedded option to renew for another 5 years.
- A 12.5 per cent royalty would be payable by BSL if it successfully produces helium or other products from the lease area to the lessor and the lease term will be extended indefinitely until production ceases.
- BSL agreed to pay a consideration of USD 75,000 to the lessor.
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