Rutila Resources (ASX: RTA) is progressing its Balla Balla export facility in Western Australia that could provide transportation and port handling to projects in the Pilbara such as Flinders Mines' proposed Pilbara Iron Ore Project.
Rutila Resources will present the latest updates at the upcoming "Stars in 2014 Series" Investor Forum in Sydney on 19 March 2014.
Under the recent agreement, Rutila and partner Todd Minerals will provide Flinders with up to 30 million tonnes per annum of export capacity.
The joint venture will be the exclusive transportation and export service provider to Flinders, subject to final investment decisions required prior to December 2015 by both parties, and Government approvals.
Rutila has reached agreement with Todd Minerals for a $10 million funding package, and the extension of the existing loan facility from Todd to 31 December 2015.
The Balla Balla Mine and Export Facility is located between Dampier and Port Hedland; adjacent to key infrastructure including gas pipeline, grid power and the northwest Coastal highway.
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RTA Price at posting:
21.0¢ Sentiment: Buy Disclosure: Held
