GWR Group Limited (ASX: GWR) has agreed to sell its remaining 80% interest in the Hatches Creek Tungsten Project to its joint venture partner, Tungsten Mining Limited. Following the completion of the acquisition, the GWR group will focus on its operations at its Prospect Ridge Magnesium Project and continue to seek investment opportunities.
As consideration, the GWR group will receive 107.5 million fully paid ordinary shares in TGN, each at a deemed issue price of AU$0.08 per share. This transaction will increase GWR's voting power in TGN to approximately 19.86%.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
