Latest announcement from Vic Alexander is they've sold all non-kaolin businesses for $5.3 m
The garnet and feldspar were loss making and while they had turned them around to cash generating businesses, they were limited to domestic markets.
Seems the board had been considering the sale for two years, but wanted to wait until they were confident the Skardon River Kaolin plant could provide an outlook of lower risk, robust profitability and realistic high growth before disposing of their alternative albeit low growth businesses.
At 3:40 PM Up 15% to 11.5 cents,
Latest announcement from Vic Alexander is they've sold all...
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