Zenith Minerals completes sale of Mt Alexander

Zenith Minerals completes sale of Mt Alexander

Zenith Minerals (ASX: ZNC) has announced that, following receipt of approvals under the Mining Act, it has now completed the sale of its 100% owned Mt Alexander magnetite iron project in Western Australia to a private Australian company, Mt Alexander Iron Ore Pty Ltd (MAIO).


Zenith Minerals (ASX: ZNC) has announced that, following receipt of approvals under the Mining Act, it has now completed the sale of its 100% owned Mt Alexander magnetite iron project in Western Australia to a private Australian company, Mt Alexander Iron Ore Pty Ltd (MAIO).

Zenith has now received from MAIO a cash payment of $250,000 and will receive ten annual payments of $250,000 each (total $2.5 million) once the project has reached commercial production, for a total consideration of $2.75 million.

Details of the Mt Alexander magnetite iron project can be found on the Company’s website.

Issue of Convertible Notes and Shares: Northern Minerals

Issue of Convertible Notes and Shares: Northern Minerals

$7.5 million Convertible Debt completed - Northern Minerals

$7.5 million Convertible Debt completed - Northern Minerals