The Australian reported that Korab Resources has ended 2012 on a high, its stock more than doubling yesterday after selling its Winchester magnetite deposit in the Northern Territory for USD 33.2 million.
Korab will receive a USD 16.6 million upfront cash payment from Estonian group Augur Investments, as well as up to USD 16.6 million in royalties once the project is in production.
Source:
http://www.steelguru.com/raw_material_news/Korab_Resources_stock_doubles_after_NT_iron_ore_sale/297077.html
