Shares in Gindalbie Metals and Royal Resources rose after the iron ore firms settled a project acquisition deal that had been held up by a legal claim.

Gindalbie shares gained 2.5 cents or 5.15% to close at 51 cents while Royal's shares added half a cent, or 3.7% to 14 cents.

Gindalbie said that it had completed the acquisition of Royal's 40% interest in the Warriedar iron ore joint venture in Western Australia's Mid-West region for USD 7 million in cash.

Settlement of the deal had been delayed pending an assessment of a claim by Minjar Gold Pty Ltd that it had a pre-emptive right over Royal's stake in the project.

(Sourced from AAP)