Quest Minerals gains more time to earn 80pct interest in WA iron ore project.

Quest Minerals has secured a two year extension to April 30th 2016 to earn an initial 80% interest in the Perenjori iron ore project in Western Australia by fulfilling its remaining earn-in commitments of AUD 1.4 million.

The company has agreed to meet certain interim expenditure targets throughout the extended farm in period. This includes spending AUD 100,000 by April 30th 2014, AUD 500,000 by December 31st 2014 and AUD 1 million by December 31st 2014.

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