News and Announcements
Olary Magnetite Project- South Australia
- Published August 21, 2012 3:14PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Helix has executed a Share Subscription Agreement with Lodestone Equities Ltd [Lodestone] over the Olary Magnetite Project in South Australia reflecting the terms of the MoU announced 23 July 2012.
Lodestone has acquired a 33% shareholding in the Helix wholly owned subsidiary, Olary Magnetite Pty Ltd [Olary], with an up-front cash payment of $0.5M to Helix and $1M towards the proposed work program. Olary’s sole assets are tenements EL3956 and EL4022 prospective for Braemar Fe Formation in South Australia.
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