Analyst Research

Report Title Price
Provider: Thomson Reuters Stock Report
$25.00
Provider: Reuters Investment Profile
$20.00
Provider: Wright Reports
$75.00
Provider: Thomson Reuters Stock Report
$25.00

NYSE and AMEX quotes delayed by at least 20 minutes. NASDAQ delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

Shandong Qixing Iron Tower Co. Ltd. Raises USD00 Million To Fund Acquisition Of Stonewall Mining Pty Ltd From Stonewall Resources Limited


Monday, 17 Jun 2013 07:32pm EDT 

Stonewall Resources Limited updated shareholders regarding the Conditional Agreement for the sale of Stonewall Mining Pty Ltd (Stonewall Mining) to Shandong Qixing Iron Tower Co. Ltd. (Shandong) dated 7 May 2013 (Acquisition). Stonewall Mining Pty Ltd is a 100% owned subsidiary of Stonewall. Stonewall and Shandong are working closely together and are delighted to report that the work streams necessary to complete the acquisition are progressing well. In particular, the parties are advancing the due diligence process, after which the attention will be focused on the drafting of final binding agreements. Stonewall will continue to inform shareholders as to further progress being made over coming months. Shandong has raised CNY2.4 billion (Approximately USD300 million) through a Private Placement to seven specific shareholders. Shandong announced to its shareholders that the funds would be used to acquire two South African gold mining projects, fund and execute several identified expansion and enhancement projects relating to the South African acquisitions as well as provide working capital and liquidity. Shareholders approved the allotment of shares to the seven investors, reporting that the funds would be used to: (i) Acquire 100% equity of Stonewall Mining Proprietary Limited for CNy930 million Yuan (Approximately USD150 million); (ii) Acquire 74% of the equity of a second South African gold mine, Galabyte and 100% of the equity of Galabyte Trust for CNY403 million. 

Company Quote

0.185
 --
12 Nov 2014