30 March
9:23am
Australian Market Outlook
Shares in manganese miner OM Holdings Ltd (ASX:OMH) gained 0.86% to $1.76 yesterday. The company is reportedly considering reviving plans to list on the Hong Kong Stock Exchange in an effort to raise money for further growth. The Australian Financial Review reports that the company also remains interested in a stake in the Tshipi manganese project in South Africa, held by Pallinghurst Resources. Pallinghurst sold its 49.9% stake in the project to Jupiter Mines after an MOU with OM fell through. Yesterday OM Holdings completed a deal to acquire a 26% stake in a South African black economic empowerment group who holds the remaining 50.1% of the project. OM Holdings profit for 2009 came to $26.93 million.
http://www.finnewsnetwork.com.au/archives/finance_news_network14211.html
financial review page 17, page-2
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