CAPITAL MARKETS

Iron-clad deal for UKD

UNITED Kimberley Diamonds has paid a total of $1 million in cash and shares for iron ore leases in the Pilbara region of Western Australia that reportedly contain up to 119 million tonnes of mineralisation grading more than 60% iron.

Michael Quinn
Iron-clad deal for UKD

The tenements lie near BHP Billiton’s Mining Area C and Hamersley Iron’s railway and were bought from DFD Rhodes. Consideration for the deal was $200,000 cash and 5 million UKD shares (at a deemed price...

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