Clara Resources Australia agreed to acquire the remaining 60% stake in Renison Coal from Savannah Resources (ASX:SVG), finalising its control over the Ashford Coking Coal Project.

The deal, valued at nearly $4 million with a future royalty of $0.75/tonne on coal sales, targets to enhance the company's operational flexibility and sets the stage for strategic development.

The deal is subject to shareholder approval. Clara Resources' board unanimously recommends the terms.