On July 25, Australian miner Atlas Iron Limited (Atlas) and Australian mineral exploration company FerrAus Limited (FerrAus) announced that they will send a notice of meeting and an explanatory memorandum in relation to the subscription and iron ore assets acquisition to FerrAus shareholders on July 28, 2011.
FerrAus directors have recommended that FerrAus shareholders vote in favor of both the subscription and the iron ore assets acquisition.
As SteelOrbis previously reported, on June 27 Atlas and FerrAus had announced that the subscription and iron ore assets acquisition agreements they had reached were subject to the approval of FerrAus shareholders.