Black Rock Mining Ltd (ASX:BKT) confirms that the final milestone payment on Mahenge North PL7802/2012 was recently triggered.
The final payment of A$250,000 was triggered following the company’s share price exceeding a daily VWAP of $0.10 for 10 consecutive days.
The payment is to be made to the vendor of Mahenge North who has elected to receive cash of $225,000 and 250,000 BKT shares.
Following settlement of this last milestone consideration, the company confirms that there are no further consideration commitments on Mahenge North PL7802/.2012.
The recent share price accretion has also resulted in the company’s Performance Rights converting to ordinary shares.
Black Rock's shares last traded at $0.19, around three times higher than their valuation just one month ago.
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