Central Iron Ore has settled the proceedings it commenced in the Supreme Court of Western Australia against SilverStream SEZC.
Central Iron Ore is an exploration and development company that searches for and develops iron ore and gold in Australia. It has held 100 per cent of beneficial ownership in the British King gold project since October 2020.
As per the court settlement, Central Iron Ore can have its entire ownership of the British King gold project registered on the title of the relevant tenements.
“We are very pleased that with the resolution of tenure and registration of 100 per cent title,” Central Iron Ore chief executive officer David Deitz said.
“Central Iron Ore can continue to focus on the advancement of the British King gold project. Approximately 65 per cent of the resource is on M37/30 (that is 100 per cent owned by Central Iron Ore) and 35 per cent is on M37/681 owned by the (joint venture Central Iron Ore shares with Red 5).”
The British King mine is located approximately 320km north of Kalgoorlie in Western Australia and five kilometres south-west from the Darlot satellite gold mine that is owned by Red 5.
As per the joint venture it has with Central Iron Ore, Red 5 owns 30 per cent of tenement M37/681.
Last week, Silver Lake Resources acquired around 11 per cent of Red 5’s issued capital.