Interesting ann yesterday that VR8's "sister" company, Arcadia minerals (AM7), has signed an agreement with a chinese company to develop their Tantalum mine in Namibia. It appears the chinese will build and operate the plant, and get 38% equity of the project entity ("ORP"). I say "sister" company, because Jurie Wessels is the chairman of both AM7 and VR8, Davy is a non-executive director on both, and the company secretary Garic (and WA address/phone number) is same for both. Maybe this is the future plan for VR8 ? AM7 was in a trading halt, then on re-opening its SP fell 20% yesterday from 20c opening to 16c, on low volumes. It seems AM7 shareholders were not impressed.
https://themarketherald.com.au/arcadia-minerals-asxam7-secures-funding-boost-for-construction-at-swanson-namibia-2023-05-29/?__hstc=51568950.628633f44a1f7506b258bbf21e52fc05.1684310439875.1685363402115.1685399070635.78&__hssc=51568950.1.1685399070635&__hsfp=2601398766
All IMHO, DYOR
Interesting ann yesterday that VR8's "sister" company, Arcadia...
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