Intra Energy Corporation (ASX:IEC) has received US$1,000,000 (A$1,511,000) as the balance of the sale price for 100% of Intra Energy shares in IETL, which was agreed with Mirambo Mining in November 2021.
The proceeds will be used to progress exploration in the Yalgarra Project in Western Australia and seek out further opportunities to drive shareholder value.
Intra Energy says it has also been engaging in negotiations with the Tanzanian Government.
Shares of Intra Energy Corporation were up 25% at 11am EAST.