Avanco Resources has received an initial $US100,000 ($103,000) payment from Vale in consideration of the option agreement on the Trindade North iron ore project.
Avanco Resources has received an initial $US100,000 ($103,000) payment from Vale SA in consideration of the option agreement wherein Vale can exercise the right to acquire the Trindade North iron ore project in Brazil from Avanco for up to $US40 million arising from in-situ iron ore royalties and other qualifying fees.
