Arrow Minerals in Talks Regarding Two Potential Western Australia Project Acquisitions to Complement Iron Ore Project

MT Newswires Live08:08

Arrow Minerals (ASX:AMD) said that it had been actively seeking additional iron ore tenements and projects in the Pilbara region of Western Australia to complement its existing Yarraloola iron ore project, and that this included preliminary talks regarding two potential acquisitions of exploration projects, according to a Friday Australian bourse filing.

It added that the proposed acquisitions are of a small scale to complement its existing project, and it does not consider the information concerning these acquisitions to be information which explains the recent trading in its securities.

However, it disclosed the information "out of an abundance of caution" after receiving a letter from ASX.

The proposed transactions remain subject to due diligence and negotiations, and documentation. The proposed consideration will likely be a combination of cash and fully paid ordinary shares in the firm.

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