- Write by:
-
Monday, September 10, 2018 - 6:53:02 PM
-
1039 Visit
-
Print
Mining News Pro - Mineral Resources has bought 10.8 per cent of Perth-based explorer and developer Barra Resources’ shares in a deal worth $2 million.
According to Mining News Pro -Barra is currently working on a pre-feasibility study (PFS) with joint venture (JV) partner Conico at the Mt Thirsty cobalt oxide project near Norseman, Western Australia. The company hopes to create cobalt primarily for the emerging electric vehicle battery market. Barra’s other projects include the 100 per cent-owned Burbanks gold project and Phillips Find gold project located near Coolgardie.
The settlement of 57,142,857 fully paid ordinary shares at a 5-day volume weighted average price (VWAP) of 3.5 cents per share is expected to be completed today.
The purchase will make MinRes Barra’s second largest shareholder following FMR Investments, which holds a 17.3 per cent share in the company.
“This investment by MinRes adds significant credibility to the quality of Barra’s projects, board and management,” said Barra managing director Sean Gregory. “Barra is now fully funded through to the completion of the Mt Thirsty PFS and beyond.”
MinRes managing director Chris Ellison also commented on the purchase, explaining that the company looked forward to offering input and support to Barra once it enters production.
Short Link:
https://www.miningnews.ir/En/News/257735
Australian miner Lynas posted a slump in third-quarter sales revenue on Wednesday, missing analyst expectations on the ...
Zimbabwe’s President Emmerson Mnangagwa has re-appointed Winston Chitando as the southern African nation’s mines ...
Anglo American Plc said it is has received an unsolicited non-binding combination proposal from BHP Group.
China’s Zhaojin Mining Industry said on Wednesday that its A$733 million ($477.8 million) offer to buy Australia’s ...
Toronto-listed miner OceanaGold Corp said on Wednesday it will raise 6.08 billion pesos ($106 million) through an ...
A key measure of Chinese copper demand just sank to zero, another indication that global prices are not balanced with ...
A new report by IDTechEx states that investing in e-haul trucks could result in major savings for miners due to the ...
Chile’s state copper company Codelco defended its proposed lithium production tie-up with SQM in response to criticism ...
Canadian miner First Quantum Minerals (TSX: FM) believes it will be able to take the already mined 121,000 tonnes of ...
No comments have been posted yet ...