Fe sells iron-ore royalty

Junior Fe Limited has entered into a sale and purchase agreement with LSX-listed Trident Resources for its Evaston royalty interest, over a portion of the wider Koolyanobbing iron-ore mine, in Western Australia.

The sales price of A$7-million in cash will be paid in two installments, with the first A$4-million payable on the completion of the transaction, which is subject to a number of conditions, including Foreign Investment Review Board approval.