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Market: ASX
Sector: General Mining
Epic: WDR
News: Latest news
Web Site: Western Desert Resources
Other Articles: 18-05-200921-04-200906-03-2009

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Friday July 03, 07:01Commercial property: The contrarian view

The global recession has hit commercial real estate companies hard, with capital values falling 43.6% from their peak in June 2007.

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Thursday July 02, 10:45Rubicon Minerals, Eastmain Resources and Fission Energy to present at 7 July Investor Forum, Toronto, Canada

Our three presenting companies are well established mining companies with advanced stage assets. All three companies are well-funded and managed by a team of experienced professionals

 

 

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Western Desert Resources

Western Desert Resources

Western Desert Resources Limited (ASX:WDR) is a diversified mineral exploration business with the objective to increase shareholder value by company growth through the discovery, acquisition and development of substantial economic mineral resources. The Board and Management of Western Desert Resources have substantial experience in the development of mining projects with specific expertise in project generation and delivering exploration success. Western Desert's principle projects are; Roper Bar which is an exciting Iron Ore project in the Northern Territory. WDR has gained access to a substantial tenement area which has never been drilled. Outcropping iron stone formations are evident across large areas of the tenements; Rover, a joint venture with listed company TNG Limited located 100kms south-west of Tennant Creek (NT) giving WDR access to tenements adjacent to the Rover 1 project (Westgold Resources Limited) which recently announced “bonanza” gold grades from drilling and the acquisition of a major interest in Thor Mining provides exposure to the high grade Molyhil tungsten and molybdenum deposit in the Northern territory.  Plans for construction of a plant to commence.
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Tuesday, December 23, 2008

Itochu invests $15m in Western Desert Resource's Roper Iron Ore project

by Proactive Investors company news image

Western Desert Resources (ASX:WDR) and ITOCHU subsidiary, IMEA Exploration & Development of Australia Pty Ltd (IEDA)  are pleased to announce the execution of formal agreements between the parties to explore and develop the highly prospective Roper Bar iron ore project in the Northern Territory.

This follows the MOU between WDR and IEDA announced on 29 September 2008.

The executed agreement provides for IDEA to expend up to A$15 million over the next six years to earn up to a maximum 51% equity in the project, in addition to the initial A$2.0 acquisition.
 
“We are delighted that Itochu has confirmed its intention to participate in the Roper Bar project,” Chairman of Western Desert, Mr Mick Billing, said today.  “We look forward to participating with Itochu in exploring and developing this exciting project.”

IDEA and WDR have executed detailed farm-in, and joint venture agreements along with various subsidiary documents.  Tenements involved are exploration licences EL26759, EL25672, EL24307, EL24944, EL24665, and ELA26992.

Documents for the transfer of a 15% interest in the tenements subject to the agreement have been lodged with the NT Department of Regional Development, Primary Industry, Fisheries and Resources, with IDEA to pay the sum of A$2.0 million to WDR upon lodgement.

The Roper Bar project is only 30 kilometres west of the Gulf of Carpentaria and just 240 kilometres east of the Alice Springs to Darwin rail corridor.

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