Beacon Minerals Agrees to Sell Six Timor Leste Concessions

MT Newswires Live

2025/11/05

Beacon Minerals (ASX:BCN) entered a conditional binding term sheet with Tivan (ASX:TVN) to sell six concessions it holds in Timor Leste, according to a Wednesday filing with the Australian bourse.

Tivan will pay AU$250,000 in cash on settlement, and Beacon will also be issued AU$250,000 worth of Tivan's shares.

The companies can terminate the term sheet if the conditions, including receipt of all necessary third-party approvals, consents, and waivers, are not satisfied by Jan. 18, 2026.

Beacon said proceeds from the sale will be used for its working capital requirements.

The deal is expected to settle 10 days after meeting or waiving the remaining conditions, the company added.

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