BOWEN Energy is set to strengthen its relationship with India steel giant Bhushan Steel, announcing managing director Neeraj Singal will join its board.
Bowen Energy coal tenements. Courtesy Bowen Energy prospectus. The Australian reported Singal has been invited to join the Bowen board and was prepared to accept the offer.
The move comes just days after Bhushan Steel representatives traveled to Australia to offer support for the Australian exploration junior in its takeover bid for fellow exploration company Rockland's Richfield. Bhushan has also said it will fund Bowen's increased takeover offer.
Singal told The Australian that Bhushan's interest in Bowen Energy and determination to secure the takeover bid for Rockland's Richfield was just the beginning of its Australian projects.
Rockland's Richfield shareholders will vote on a reverse takeover offer from China Coke and Chemicals tomorrow.
If Rockland approves the China Coke takeover, Bowen Energy said it will walk away and look for other Australian options.
BWN Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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