Murchison Metals Limited (ASX:MMX) has released an ASX announcement advising it has satisfied the conditions set out by the Western Australian government to approve the sale of key assets to Mitsubishi.
The sale of the company’s interests in Crosslands Resources and the Oakajee Port and Rail project is reportedly worth $325 million.
A shareholder meeting to consider the transaction will be held at 10am Western Standard Time. If shareholders approve the transaction, Murchison says it expects it to be completed by February 20.
In the 2011 financial year Murchison booked a net loss of $16.5 million.
