At least someone is in the office: Sydney - Tuesday - December...

At least someone is in the office:

Sydney - Tuesday - December 8: (RWE Aust Business News) - Strike
Resources (ASX:SRK) has an agreement with Process Minerals
International(PMI), a subsidiary of Mineral Resources (ASX:MIN), for the
potential mining of iron ore from Strike's Paulsens East project in the
Pilbara, Western Australia.
PMI will determine the feasibility of an iron ore mining
operation on the Paulsens East tenements.
If the operation is feasible PMI will acquire the iron ore rights
in the tenements and develop plant to mine and process iron ore from the
tenements.
Upon commencement of mining, PMI will pay Strike $3.20 per dry
metric tonne of iron ore mined, subject to variation in accordance with
iron ore price benchmarks and to the levels of iron ore fines and lump
produced.
In this regard, Strike has applied for the grant of a mining
lease over the iron ore project area together with applications for the
grant of two miscellaneous licences for the potential construction of a
road from the project area to the Nanutarra-Wittenoom Road and for the
potential construction of mine site development infrastructure.
"This agreement offers the potential for the company to generate
cashflow from the Paulsens asset with minimal outlays," chairman John
Stephenson said.
"This is consistent with the company's strategy of retaining its
cash reserves, and seeking short-term cash generation opportunities, to
help fund the development of the flagship Apurimac iron ore project in
Peru."