Elmore (ASX:ELE) has moved closer to practically completing the acquisition of the Peko tailings project in the Northern Territory after agreeing with Oz Professionals.

The firm says it now only continue to await an approved stamp duty assessment from the NT government.

Elmore also announced its H1F23 results and market update, saying it was disappointed with the delay in finalising its statements, and that it's working closely with Azure Capital to complete the re-financing of the Vendor Finance package.

Its Managing Director, David Mendalawitz says: "With production and sales of magnetite progressing well, aided by favourable weather, we look forwards to reaching our magnetite production targets in the near future, completing the refinancing activities and continuing to build scale and reliability into our operations."