One-time WA iron ore miner Moly Mines, which was delisted from the ASX early this year with nearly 4,000 shareholders and $63 million in the bank, has struck a deal to buy copper stock Queensland Mining Corporation.
Nearly 4,000 shareholders in West Perth company Moly Mines have effectively become stranded in the $63 million cashbox after a stand-off between its board and the ASX ended in a delisting of its stock.
Former Hanlong Mining boss Hui Xiao has been handed an eight-year prison sentence by a Sydney court for insider trading with regards to two Perth resources companies.
The corporate watchdog says former Hanlong Mining managing director Hui Xiao has pleaded guilty to insider trading involving two Perth resources companies.
Shares in cashed-up Moly Mines have slumped after the company's two most senior executives left the business and it admitted it was likely to suspend trading on the ASX after failing to acquire a new business.
Moly Mines has announced another boardroom shakeup in the wake of the arrest in Hong Kong earlier this week of one of the company's major shareholder's senior executives.
Sundance Resources has outlined a new approach to funding its major iron ore project in West Africa, seven months after terminating a $1.3 billion takeover agreement with Chinese company Hanlong Mining.
The boardroom twists at cashed-up Moly Mines have taken another turn, with its Chinese shareholder moving to replace the independent directors with Perth veterans Bruno Camarri and Peter Mansell.
China's Hanlong Mining Investments has been successful in its bid to ditch three independent directors from the board of Perth-based gold, copper and molybdenum miner Moly Mines.
Hanlong's troublesome 20 month-long takeover of Sundance Resources looks to be almost dead, after the Chinese suitor disclosed it would not meet a key funding deadline for the $1.3 billion dea
The long-running takeover of iron ore stock Sundance Resources faces more delays and uncertainty after Chinese suitor Hanlong Mining was told by regulators and bankers in China to find a large and
Sundance Resources is on the brink of big changes, as its 18-month takeover saga approaches a finale and its African iron ore project completes major milestones.
Bannerman Resources has advised would-be Chinese suitor Sichuan Hanlong Group that it will pursue discussions with other parties regarding development of its uranium project in Namibia, after Hanlo
Hanlong Mining is under investigation by the Australian Securities and Investments Commission for suspected insider trading activities in the stock of its takeover targets, Perth-based miners Banne
Moly Mines has secured $US500 million in financing agreements to fund the construction of its Spinifex Ridge molybdenum-copper project near Port Hedland.
Perth-based iron ore miner Moly Mines has announced that it will enter into a $600 million engineering contract with one of China's top engineering companies and ASX-listed GR Engineering Services to develop its Spinifex Ridge molybdenum project.
VETERAN director Peter Mansell continues to rebuild his corporate portfolio with an appointment to a special advisory role with emerging resources investor Hanlong Mining Investment.
The financier for Moly Mines' Spinifex Ridge molybdenum project in the Pilbara says it is still committed to the project, despite delays in securing project approval.
Hanlong Mining has appointed former WA Newspapers and Western Power chairman Peter Mansell to help achieve the company's aspirations of becoming a large international mining house.
The Chinese majority owner of Moly Mines, Hanlong Mining Investment, has received Chinese government approval for a $US466 million loan to complete financing for the Spinifex Ridge molybdenum-copper project in the Pilbara.
Shares in Moly Mines have been lifted following the company's completion of the Chinese-backed transaction resulting in Hanlong Mining Investment becoming Moly's controlling shareholder after settling the $US200 million equity and debt funding.
