MELBOURNE, Jan 22 (Reuters) - Australian cobalt developer Jervois Mining (JRV) said on Tuesday it has agreed to buy a Canadian cobalt explorer with operations in Uganda, as the hunt for quality mines in the battery materials sector gains pace.
Jervois, which is backed by ex-Glencore executives, is offering one of its shares for every share in M2 Cobalt MC.V , valuing the Canadian company at C$16.6 million ($12.5 million), a 4.5 percent premium at current share prices.
M2 Cobalt has tenements across a region that includes a former copper and cobalt mine run that was closed after being sold the Ugandan government.
Jervois, which has applied for a prospecting licence in Tanzania, said the deal would complement its efforts to establish a presence in east Africa.
M2 shareholders would make up about 22 percent of the expanded company, and Jervois hoped to maintain a listing on Toronto's TSX Venture Exchange, giving it access to North American capital markets.
Jervois Chief Executive Bryce Crocker and Chairman Peter Johnston, both former executives of London-listed miner Glencore GLEN.L , will continue in their current roles.
Jervois is developing the Nico Young cobalt-nickel deposit in the Australian state of New South Wales. ($1 = 1.3316 Canadian dollars)
- Forums
- ASX - By Stock
- News: JRV Jervois Mining offers C$16.6 mln in shares for Uganda cobalt projects
MELBOURNE, Jan 22 (Reuters) - Australian cobalt developer...
-
- There are more pages in this discussion • 18 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add JRV (ASX) to my watchlist
(20min delay)
|
|||||
Last
1.1¢ |
Change
-0.001(8.33%) |
Mkt cap ! $29.73M |
Open | High | Low | Value | Volume |
1.1¢ | 1.2¢ | 1.1¢ | $33.93K | 3.083M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
11 | 3245843 | 1.1¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.2¢ | 1454969 | 7 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
6 | 1273545 | 0.011 |
31 | 7755496 | 0.010 |
8 | 2923747 | 0.009 |
8 | 4663888 | 0.008 |
7 | 4353922 | 0.007 |
Price($) | Vol. | No. |
---|---|---|
0.012 | 1454969 | 7 |
0.013 | 1823293 | 8 |
0.014 | 2941080 | 9 |
0.015 | 3501868 | 3 |
0.016 | 1012872 | 5 |
Last trade - 16.10pm 23/08/2024 (20 minute delay) ? |
JRV (ASX) Chart |
The Watchlist
SER
STRATEGIC ENERGY RESOURCES LIMITED
David DeTata, Managing Director
David DeTata
Managing Director
SPONSORED BY The Market Online