Clara Resources Australia secured the remaining 60% stake in Renison Coal, holder of the Ashford Coking Coal Project, from Savannah Goldfields (ASX:SVG) for $4 million plus a future 75 cents per tonne royalty on coal sales.

The transaction makes Clara Resources the sole owner of the project.

The revised deal lowers the upfront purchase price, allowing strategic capital allocation.

The Ashford Project in New South Wales Northern Tablelands demonstrates the potential for high-value coal production and off-take agreements to support development costs.