Great announcement in todays Quarterly Activities Report regarding Cullen royalties from tenements at Wyaloo North:
"Wyloo North Iron Ore Royalty – During the Quarter, Fortescue Metals Group Ltd (ASX: FMG, Fortescue) announced approval of the Eliwana mine and rail development in the West Pilbara of W.A. Cullen holds a 1.5% F.O.B. Royalty (to 15Mt) on a group of tenements held by Fortescue at Wyloo North and part of the Eliwana/Western Hub Mineral Resources Inventory, as announced by Fortescue in August 2017. Wyloo North comprises 101Mt at 60.4% Fe and is the highest grade of the nine separate deposits Fortescue includes in the current Eliwana Mineral Resources Inventory. Although timing of any new iron mine development on the Wyloo North tenements is uncertain, Cullen considers this royalty is a valuable asset offering substantial potential cash flow."
CUL Price at posting:
0.1¢ Sentiment: Hold Disclosure: Held
