Sandfire Resources (ASX:SFR) said it is close to finalizing transaction agreements with Havilah Resources (ASX:HAV) as part of a binding term sheet to advance the Kalkaroo project in South Australia, according to a Tuesday filing with the Australian bourse.
The company may earn an 80% stake in the project through a two-stage earn-in structure under the agreement, the filing said.
Sandfire Resources shares fell 2% in afternoon trade on Tuesday, while Havilah Resources shares were down 3%.
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