HIGHLIGHTS
- Rutila Resources Limited (ASX:RTA, “Rutila” or “the Company”) and its partner Todd Minerals Limited (“Todd”) through their Balla Balla Joint Venture (“The JV”) entered into an Alliance Agreement (the “Alliance Agreement”) with Flinders Mines (ASX:FMS “Flinders”) to provide Flinders with a fully integrated transportation and port handling service (“Transportation and Port Handling Service”) of up to 30 million tonnes per annum (“Mtpa”) for its proposed Pilbara Iron Ore Project (“PIOP”).
- Todd agreed to the provision of a A$10 million funding package to Rutila, subject to shareholder approval, together with the extension of the existing loan facility to 31 December 2015.
- Western Australia Department of Mines and Petroleum granted the Miscellaneous Licence L47/690 on 15 January 2014, which covers land from The JV’s current mining leases to the gazetted Balla Balla Port area.
- Department of Mines and Petroleum registered Rutila on title for the completed earn-in stake of 50.1% in the Eucla West tenements, located in the Fraser Range region, Western Australia.
- Rutila entered into an agreement to sell down 50% of its Farm-in rights into the Eucla West tenements to Todd for consideration of A$1.5 million, subject to shareholder approval.
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