Red Rock Resources said yesterday it had sold a 50 per cent stake in its Mount Ida royalty for $14m. FTSE 250-listed Anglo Pacific is paying $14m (£8.8m) for the interest in the iron ore project, which is based in western Australia and is being developed by Jupiter mines. The acquisition will be paid for in three instalments including some shares, the firm said in a statement yesterday. Red Rock shares rose 3.8 per cent to 3p on the back of the news.
Red Rock sells Mount Ida slice
Tuesday 7th February 2012, 2:26am
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