Magnetite Mines makes a play for Lodestone

April 6, 2017

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Magnetite developer Magnetite Mines has signed a framework agreement to acquire privately held Lodestone Equities, which holds iron-ore rights and tenements in South Australia.

The framework agreement gave Magnetite Mines an exclusive period to negotiate a share sale and purchase agreement for Lodestone through until the end of December, however, the transaction was expected to be settled in the third quarter of this year.

Category: General