API Management Pty Ltd. agreed to acquire 14% stake in Yalleen Iron Ore Project JV from Helix Resources Limited (ASX:HLX) for AUD 0.5 mililon on January 15, 2018. Helix Resources Limited will also as part of consideration recieve Uncapped 1% FOB royalty on all iron ore sales from the Tenement Area and Uncapped 1% NSR on certain precious or base metal production from the Tenement Area. The sale remains conditional on approval by Baosteel’s Board of Directors, ultimate shareholder of API Management Pty Ltd. and completion is expected in the current quarter.