Sign up Australia
Proactive Investors - Run By Investors For Investors

Strike Resources to update on "shootout" with JV partner

Strike Resources to update on "shootout" with JV partner

Strike Resources (ASX: SRK) has been granted a trading halt this morning by the ASX pending an update on the "shootout" in relation to the company's 50% joint venture holding in Apurimac Ferrum SA.

The company's shares have been placed in pre-open.

Strike has recently indicated that 100% ownership is expected in Apurimac Ferrum (the Shoot-out provision in Settlement Agreement), which would help increase the company's exposure to large-scale iron ore projects in Apurimac and Cusco regions of southern Perú - where the goal is to establish a 15-20 million tonne per annum business.

The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Monday 8th October.


Well funded

Worth noting Strike had $20.5 million in cash at the end of the June 2012 quarter, yet the company's current market cap. is just $16 million.

 

Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.





Register here to be notified of future SRK Company articles
View full SRK profile View Profile

Strike Resources Timeline

Related Articles

Vanadium
September 05 2017
Bushveld Minerals is rapidly emerging as a significant player in vanadium
Nickel
May 19 2017
Strategic Minerals has a diversity of assets, including the Cobre magnetite operation in New Mexico and the Redmoor tin and tungsten project in Cornwall
copper tubes
September 07 2017
The latest economic study at Parys Mountain has delivered some encouraging numbers against a backdrop of rising base metals prices

© Proactive Investors 2017

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use