GWR Group (ASX:GWR) has received two monthly payments of $756,000 each from Gold Valley Iron, which will continue to strengthen the balance sheet ahead of the quarter.
GWR says it will receive a minimum of approximately $52M from GV over the next ten years, and the cash flow generated from GV payments will be used to investigate and fund potential new acquisitions.
External parties have expressed positive interest to either purchase a portion of the eleven iron ore deposits or to acquire the mining rights, and GWR says the significant work undertaken to investigate long term infrastructure solutions for the Wiluna West Iron Ore Project will further enhance appeal.
GWR Group says it will update the market as these discussions progress, and will also update the market as it continues to assess and review several new opportunities for potential acquisition.