🔺 What to do when markets are at an all-time high? Find smart bargains, like these.See Undervalued Shares

BRIEF-Altona Mining says Chinese regulator SASAC approves cloncurry transaction

Published 13/02/2017, 09:40 am
© Reuters.  BRIEF-Altona Mining says Chinese regulator SASAC approves cloncurry transaction
HG
-
AOH
-

Feb 13 (Reuters) - Altona Mining Ltd AOH.AX

* Chinese regulator sasac approves cloncurry transaction

* Is anticipated that jvco will have us$238.53 million in cash at closing

* Jvco will own 100% of cloncurry project.

* Jvco intends to develop a 7 million tonne per annum mine and processing plant for an annual production of 39,000 tonnes copper and 17,000 ounces gold

* Altona will contribute us$25 million to jvco and Altona will own 34% of jvco

* On closing, SRIG will make a cash contribution of us$213.53 million to jvco and will own 66% of jvco

* SASAC has given srig approval to proceed with transaction with Altona to form an incorporated joint venture Source text for Eikon: ID:nASX8r6czh Further company coverage: AOH.AX

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.