Forge Resources to Purchase Atlas Iron’s Project

- December 16th, 2011

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.

Get the latest Iron Investing stock information

Get the latest information about companies associated with Iron Investing Delivered directly to your inbox.

Iron Investing

Tags

Tags: ,

Leave a Reply