FCC buys out Iron Creek royalty

This announcement should be up on ASX before opening.

The Iron Creek Project was previously under lease to First Cobalt. Under the terms of the lease, First Cobalt was required to make monthly payments and the leaseholder retained a 4% royalty over future production, both of which could be eliminated through a one-time payment. First Cobalt and the leaseholder agreed to a 47% reduction of this payment to US$1.07 million , which has now been paid in full.

https://finance.yahoo.com/news/first-cobalt-acquires-100-ownership-110000962.html?.tsrc=applewf

Looks cheap to me for the rights acquired.  Grizzled miners don't give up prospective royalty streams easily - maybe this is all IC is worth.

Ash