![]() The acquisition is subject to receiving regulatory approvals, third party consents and final Board approvals, and is scheduled for completion at the conclusion of the current Stage 3 open pit mining operations on Cockatoo Island in late 2012.Ĭockatoo Island is part of a group of islands making up the Kimberley Iron Ore hub and includes Koolan Island and Irvine Island, the site of Pluton's flagship iron ore project. Pluton will now progress towards the next stage of the acquisition by reaching definitive agreements between all parties, which is scheduled for completion in January 2012. Under the terms of the agreement, Pluton will assume full responsibility for the environmental rehabilitation of Cockatoo Island. The conclusion of due diligence follows the ASX announcement on 2nd September, 2011 that Pluton had entered into a binding term sheet with the current owners being Cockatoo Mining, Cliffs Asia Pacific Iron Ore and HWE Cockatoo, in relation to the acquisition of their beneficial interest in mining tenements and certain infrastructure on Cockatoo Island. Pluton Resources Limited (ASX:PLV) Cockatoo Island Proposed Acquisition Update and Stage 4 Valuation Perth, AEST (ABN Newswire) - Pluton Resources Limited ( ASX:PLV) is pleased to announce that after the successful completion of due diligence into the Company's potential acquisition of the iron ore assets on Cockatoo Island ("Cockatoo"), Western Australia, it has advised the current owners of Cockatoo Island in writing of the Company's intention to continue with the acquisition.
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