Company Overview - Aura FAT Projects Acquisition Corp (AFAR) has entered into a binding Letter of Intent (LOI) with Dalmore Holdings Pty Ltd for a proposed business combination, which is expected to result in a public listing on a national securities exchange in the United States [1] - Dalmore Holdings is an Australian private mining company focused on the revitalization of the Wilkie Creek open-cut coal mine in Queensland, Australia [16] Transaction Details - Under the LOI, all existing Dalmore shareholders will roll their equity into the combined company, and AFAR plans to raise additional capital through a private investment in public equity (PIPE) financing to support growth objectives [2] - The LOI is subject to due diligence, final transaction structuring, and includes provisions for exclusivity and confidentiality [3] Operational Progress - Dalmore operates the Wilkie Creek coal mine, which has a legacy production run rate of approximately 2.6 million tonnes per annum, with plans to ramp up to about 3.7 million tonnes per annum [4] - Following a comprehensive operational and financial restructuring, Dalmore is preparing for its first shipments of high-quality Australian coal, supported by funding from Blackbird Capital [5] - The recommencement of commercial operations at Wilkie Creek is expected to stimulate economic activity in the Dalby region, including job creation and increased demand for local services [6] Advisory and Legal Support - Hall Chadwick is serving as Corporate Advisor to Dalmore, while Cohen & Company Capital Markets is the exclusive financial advisor to AFAR [7]