majority

Shandong to Take Majority Stake in Focus Minerals


Shandong Group, China's third largest gold producer plans to take a majority stake in junior gold miner, Focus Minerals (ASX:FML). Focus Minerals had taken over Crescent Gold last year. Shandong is offering $227.5 million at 5 cents per share to take a 51 percent stake in Focus Minerals.

  • The price will be at a 13.6 percent premium to its closing price on Wednesday – which was 4.4 cents per share.
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