Perth based energy company Aviva Corporation Ltd has signed the final deeds with the owner of the existing tenements Iluka Group of Companies and private owner of the coal rights Sword Nominees Pty Ltd for the Central West Coal deposit near Eneabba. The deeds cover the option to purchase the coal rights and the ongoing mining access rights to freehold land and mining tenements both for the exploration and future development and operation of the project.

The consideration for Aviva's eight year option agreement with Sword includes an annual option payment and once the option is exercised, Sword will earn a 6% royalty. The agreement with Iluka covers the co existence of farming, mineral sands and coal activities in the Project area. Iluka may elect to participate in joint venture with Aviva to acquire a 49% interest in the project if the project is planned to produce in excess of 1.5 million tonnes per annum for use by a base load power station or 1 million tonnes per annum for any industrial use.

Mr Lindsay Reed CEO of Aviva in a statement said that the signing of these agreements cemented the company's position and plans to develop base load power generation in the Midwest.

With the agreement of Iluka and Sword, Aviva has been conducting exploration and development activities on the project for 2 years and recently released the results of a positive pre feasibility study for the Central West Project. Aviva has already commenced a drilling and combustion test work program as a key component of a Definitive Feasibility Study and the platform for introducing qualified partners to the Project.