Canada’s Ridgemont Iron Ore Corp. merges with Castillian Resources

Friday, 12 April 2013 16:29:14 (GMT+3)   |   Istanbul
       

Vancouver, British Columbia-based Ridgemont Iron Ore Corp. and Canadian mineral exploration company Castillian Resources Corp. announced that they have entered into a Letter of Intent pursuant to which Castillian will acquire all of the outstanding shares of Ridgemont and Ridgemont will become a wholly owned subsidiary of Castillian.

Under the terms of the Letter of Intent, upon completion of the transaction, existing Castillian and Ridgemont shareholders will own approximately 57.8 percent and 42.2 percent of the combined company, respectively.

Ridgemont is a Canadian exploration company looking to acquire, explore and develop iron ore mineral properties. Ridgemont has a 100 percent interest in the Lac Virot Iron Project located in the southern Labrador Trough and holds a 100 percent interest in the Maguse River Iron Project located in Nunavut.


Similar articles

Iron ore prices drop by over $9//mt week on week, mood remains bad

28 Mar | Scrap & Raw Materials

Goa government to ease policy for liquidating iron ore dumps lying on private land

28 Mar | Steel News

Major steel and raw material futures prices in China - March 28, 2024

28 Mar | Longs and Billet

CISA: Coking coal purchase cost in China down 9.86% in Jan-Feb

28 Mar | Steel News

Brazilian high-grade iron ore price declines sharply in two days

27 Mar | Scrap & Raw Materials

Daily iron ore prices CFR China - March 27, 2024

27 Mar | Scrap & Raw Materials

India’s JSPL takes operational charge of iron ore complex in Venezuela

27 Mar | Steel News

Major steel and raw material futures prices in China - March 27, 2024

27 Mar | Longs and Billet

Vale selected to begin award negotiations for US briquette plant

26 Mar | Steel News

Daily iron ore prices CFR China - March 26, 2024

26 Mar | Scrap & Raw Materials