EMU NL to Receive A$2.2 Million Milestone Payments Following Coruscant Minerals Sale to Catalina Resources

Shwetambri Chauhan

12 November 2026 10:15 AM AEDT

EMU NL to Receive A$2.2 Million Milestone Payments Following Coruscant Minerals Sale to Catalina Resources

Image Source: Krish Capital Pty Ltd

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EMU NL (ASX:EMU) has disclosed that it will be entitled to accelerated Milestone Payments of A$2,200,000 following the execution of a binding conditional sale and purchase agreement by Catalina Resources Ltd (ASX:CTN) to acquire Coruscant Minerals Pty Ltd from Badja Gold Pty Ltd, subject to the conditions of that agreement being satisfied or waived by 31 January 2027.

Key Points

Catalina Resources Ltd (ASX:CTN) executed a binding conditional sale and purchase agreement on 10 November 2026 to acquire Coruscant Minerals Pty Ltd from Badja Gold Pty Ltd.
EMU NL is entitled to A$2,200,000 in Milestone Payments upon completion of the Coruscant sale to CTN, subject to conditions being satisfied or waived by 31 January 2027.
The Milestone Payments were originally deferred payments tied to production milestones when EMU sold Coruscant to Badja, as announced on 15 September 2025.
The payments are accelerated because Badja sold Coruscant within five years of its acquisition from EMU.
Completion of the SPA is targeted by end of January 2027, subject to CTN shareholder approval and normal government licence approvals.

Coruscant Minerals Sale and Purchase Agreement Terms

Catalina Resources Ltd (ASX:CTN) announced on 10 November 2026 that it had executed a binding conditional sale and purchase agreement to acquire Coruscant Minerals Pty Ltd from Badja Gold Pty Ltd. Completion of the transaction is targeted by the end of January 2027. The conditions of the SPA include receipt of necessary CTN shareholder approval and normal government licence approvals. Those conditions must be satisfied or waived by 31 January 2027 for the transaction to proceed, according to EMU's filing dated 12 November 2026.

EMU's Original Sale of Coruscant to Badja Gold

As disclosed by EMU to the market on 15 September 2025, the company previously sold Coruscant Minerals Pty Ltd to Badja Gold Pty Ltd. The consideration for that sale included A$2,200,000 in deferred payments tied to production milestones, described in the filing as Milestone Payments. The terms of the original sale agreement provided that those Milestone Payments would be accelerated in the event that Badja sold Coruscant within five years of its acquisition from EMU. CTN's 10 November 2026 announcement acknowledged these terms.

Accelerated Milestone Payment Entitlement for EMU NL

As a result of the binding conditional SPA between CTN and Badja, EMU NL disclosed that it will be entitled to receive the full A$2,200,000 in Milestone Payments upon completion of the sale of Coruscant to CTN, provided the conditions precedent to the SPA are satisfied or waived by 31 January 2027. The acceleration of the Milestone Payments is triggered by Badja's sale of Coruscant occurring within the five-year period specified in EMU's original agreement with Badja, according to the filing.

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