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BRIEF-Bauxite Resources says SASAC approval received for sale of Yankuang interest in JV

Published 10/12/2015, 02:02 pm
Updated 10/12/2015, 02:10 pm
© Reuters.  BRIEF-Bauxite Resources says SASAC approval received for sale of Yankuang interest in JV
ASQ
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Dec 10 (Reuters) - Bauxite Resources Ltd BAU.AX :

* Sasac approval received for sale of yankuang interest in jv BAU.AX

* Says "the transaction is now only conditional on brl shareholder approval"

* Joint ventures with yankuang will be terminated"

* Yankuang will pay brl the sum of A$7.15 million for its interests in the assets of the joint ventures"

* Says brl will transfer to yankuang all its interest in the tenements that relate to the joint ventures

* Brl will buy back yankuang's 19,700,000 shares in brl for the sum of $1.15 million

* Source text for Eikon ID:nASX3PT0YM

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