Gindalbie Metals' shares soared in afternoon trade today with the stock up 30% to $0.15 with over 18 million shares changing hands by 3pm AEST. The company announced yesterday, before market open, that it would remain debt-free with more than $35 million cash following a proposed financial and ownership restructure of Karara Mining. Earlier this week, Gindalbie had announced an agreement in principle with its JV partner Ansteel to restructure the Karara Project in WA, which will leave Gindalbie well positioned to take advantage of growth opportunities. Ansteel is China's second-largest steel maker and biggest iron ore producer. (VIEW LINK)
Livewire News brings you a wide range of financial insights with a focus on Global Macro, Fixed Income, Currencies and Commodities.
No areas of expertise