Silver Mines' (ASX:SVL) Bowdens Silver subsidiary signed a binding contract to acquire a strategic parcel of freehold land near the Bowdens project in New South Wales for AU$12.5 million in cash, according to a Tuesday filing with the Australian bourse.
The company will own about 3,345 hectares of freehold land upon completion of the transaction, the filing said.
Settlement of most lots to be acquired will take place on July 24, per the filing.
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