Quantum Graphite (ASX:QGL) secured a renewal of its Uley 2 mineral leases in South Australia for a 21-year term, according to a Friday filing with the Australian bourse.
The renewal, approved by the South Australian Department of Energy and Mining, provides the basis for an extended project life covering the mineralization at Uley 2 and Uley 3, the filing said.
Shares fell 3% in afternoon trade on Friday.
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