Ausraliasian Owner Seals Iron Ore Deal

SMH reported Australasian Resources (ASX:ARH) has completed a deal to acquire iron ore projects previously owned by Mineraology.

As quoted in the market news:

Australasian Resources – which is majority owned by Mr Palmer – is set to double the size of its iron ore operations and receive $5 million in funding as a result of a complex deal involving three other companies that are also controlled by the Queensland billionaire.

Click here to read the full SMH report.