ASX-listed Tigers Realm Coal (TIG) has through a heads of agreement with its joint venture (JV) partners, taken over 100% ownership at the Amaam North coking coal project, in far east Russia.
Through the $25-million, 20-year transaction, JV partner B.S. Chukchi Investments, will convert its 20% interest in the Amaam north project to a 2% royalty of gross sales revenue from coal produced. TIG also acquired Siberian Tigers International’s 3% royalty of gross sales revenue from coal produced by TIG at Amaam North.
