- Write by:
-
Monday, September 10, 2018 - 6:53:02 PM
-
1051 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
Europe’s largest copper producer Aurubis AG reported first-half core profit above expectations on Wednesday, helped by ...
Australia will spend A$566 million ($373 million) over the coming decade to map out resource deposits with a focus on ...
Indonesia’s nickel reserves are sufficient for expanded processing operations, an investment ministry official said on ...
Equinor on Wednesday said it has entered an agreement with Standard Lithium to acquire a 45% stake in lithium projects ...
China issued draft rules on Wednesday to regulate its lithium battery market, after rapid expansion in the sector hit ...
Newmont Corp. has no plans to expedite a decision on its $2.5 billion Yanacocha Sulfides project, dashing the Peruvian ...
A Brazilian federal court rejected a request made by the country’s solicitor general’s office asking that miners Vale, ...
Imports of iron ore by China, the world’s biggest buyer, in 2024 are expected to be around 1.17 to 1.18 billion metric ...
China’s Ganfeng Lithium Group Co. plans to pay about $408 million to buy out its partner in a lithium mine being ...
No comments have been posted yet ...