Supersorb sells Qld land assets

Supersorb Minerals NL, a subsidiary of Albany-based Supersorb Environmental NL, will sell its former pet litter operations and surrounding freehold land at Duaringa, Qld, for $350,000 to an undisclosed buyer.

The company will remove all plant and equipment from the land after completion of the sale.

Supersorb said in an announcement that the sale was an important step in Supersorb's on-going sale of industrial mineral assets, as the company repositioned itself as a molybdenum and tin explorer.

The contract is conditional on the purchaser obtaining the necessary approval from the Shire of Duaringa for a material change of use of the land within three months of the contract date, though the purchaser may waive this condition at their discretion.

The purchaser has paid a deposit of $17,500 with the balance to pay on completion.

The deposit is refundable up to 16 October 2006 if the purchaser withdraws due to not obtaining council approval.