Pluton Resources Limited
(ASX:PLV) has completed the acquisition of the Cockatoo Island iron ore project in a JV with Hong Kong trading company Wise Energy Group.
Pluton’s Managing Director says the acquisition marks the company embarking as an iron ore producer and expects reserves and resources on Cockatoo Island totalling 12 million tonnes of direct shipping ore.
In the first half of the 2012 financial year, Pluton booked a net loss of $1.5 million.
