maybe some good news on the horizon, hopefully a major resource upgrade first
Winmar Resources, the Australian-listed miner, is likely to sell a majority stake to a Chinese buyer, the Australian Financial Review reported.
According to an unsourced report in the paper?s Street Talk column, Winmar is expected to sell a major stake to a Chinese group in order to raise around AUD 40m (USD 43m), rather than undertake a traditional equity raising.
The paper said Winmar requires the funds to buy out the remainder of the Hamersley Iron project from Cazaly Resources. Winmar has already secured 51% of Hamersley and has right to buy the remaining 49% at AUD 0.50 per tonne of resources during the first 18 months after the deal and AUD 1 per tonne after 18 months.
Winmar has a market capitalisation of AUD 16.3m (USD 17.9m)
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1.7¢ |
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Mkt cap ! $7.842M |
Open | High | Low | Value | Volume |
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Buyers (Bids)
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1 | 233482 | 1.7¢ |
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Price($) | Vol. | No. |
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No. | Vol. | Price($) |
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1 | 233482 | 0.017 |
5 | 1541060 | 0.016 |
2 | 72715 | 0.015 |
1 | 187562 | 0.014 |
1 | 500000 | 0.013 |
Price($) | Vol. | No. |
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0.018 | 166666 | 1 |
0.019 | 129028 | 1 |
0.020 | 646000 | 2 |
0.022 | 136363 | 1 |
0.023 | 148631 | 1 |
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