Ausgold (ASX:AUC) reached an agreement-in-principle with the Shire of Katanning for the long-term lease of Shire-owned land near the town of Katanning for a workforce accommodation facility for the Katanning gold project in Western Australia, according to a Thursday Australian bourse filing.
The signing of lease documentation remains subject to Council approval, following the issue of a public notice regarding the shire's plan to enter into the lease arrangement with Ausgold.
The agreement has a term of 12 years starting Jan. 1, 2026, with two five-year extension options.
Ausgold's shares rose past 1% in recent trading on Thursday.