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Centrex Metals bags A$2.4M from land sales

Centrex MetalsLtd. said March 31 that it generated A$2.4 million after completingthe sale of four land holdings, which were initially purchased to further the developmentof the company's iron ore projects.

The sales, which increased Centrex's total cash balance as ofMarch to A$28.0 million, followed the company's decision to focus on developingthe Oxley potassiumproject in Western Australia along with base metals exploration in New South Wales.

A scoping study for Oxley, which has a maiden inferred potassiumresource of 155 million tonnes,is due for completion midyear.