TERRITORY RESOURCES LIMITED

ASX:TTY (AUD) 0.21 [-0.01 (-2.33%)] Nov 20 2009 - Close

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22 RAILWAY ROAD, SUITE 24-26, 3RD FLOOR
SUBIACO
Western Australia
Australia, 6008
Phone: +61 (0)8 9483 5100
Fax: +61 (0)8 9483 5111

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Company Summary

Territory Resources Ltd is an Australian Resources Group with an iron ore operation in the Northern Territory. The company's assets are all located in Australia's Northern Territory.

Company News

Monday, November 09, 2009

Territory Resources Limited advise that it has reached an agreement to sell its stake in India Resources Limited. The sale of the 8.5% interest, which is one of the final remaining investments from its previous diversification strategy, is consistent with Territory’s strategy of focusing on its core iron ore operations in Australia. The deal will involve the sale of Territory’s stake in India (19,019,000 shares) at $0.024 per share, raising a total of A$456,456, and the transfer of a A$1.5 million inter-company loan previously provided to India by Territory, for a total cash settlement of A$1.956 million.

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