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    iron investing

    Forge Resources to Purchase Atlas Iron’s Project

    Investing News Network
    Dec. 16, 2011 02:42PM PST
    Base Metals Investing

    Platts reported Forge Resources (ASX:FRG) will purchase Atlas Iron’s (ASX:AGO) vanadium/titanium/iron project.

    Platts reported Forge Resources (ASX:FRG) will purchase Atlas Iron’s (ASX:AGO) vanadium/titanium/iron project.

    As quoted in the market news:

    The two companies have signed a binding agreement under which Forge will pay Atlas A$40 million ($39.8 million) plus a capped royalty based on tonnage sold. The payment is to be split into two stages, with an initial A417.5 million due by end February, 2012, and the remaining A$22.5 million by end February, 2013.

    Click here to read the full Platts report.

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