June 25, 2019 3:00 am by Neil Hume , Natural Resources Editor When Niron Metals, a new company fronted by former Xstrata chief Sir Mick Davis, announced plans a few months ago to develop an iron ore deposit in Guinea, it surprised many people in the close-knit mining industry.
While Guinea sits on some of the richest iron ore deposits, the west African nation has never exported a single tonne of the steelmaking ingredient, mainly because of the costs involved in building infrastructure such as ports and railways.
However, the backdrop suddenly looks more favourable for Niron with iron ore prices sitting at a five-year high. Other mining investors, such as billionaire Robert Friedland, are also eyeing projects in the country.
SINO HUA-AN INTERNATIONAL BERHAD ("SHIB" OR THE "COMPANY")
PROPOSED ISSUANCE OF REDEEMABLE CONVERTIBLE MEDIUM TERM NOTES WITH AN AGGREGATE PRINCIPAL AMOUNT OF UP TO RM150 MILLION ("PROPOSED NOTES ISSUE") On behalf of the Board of Directors of SHIB (“Board”), Kenanga Investment Bank Berhad (“Kenanga IB”) wishes to announce that the Company proposes to undertake the proposed issuance of redeemable convertible medium term notes (“Notes”) with an aggregate principal amount of up to RM150 million ("Proposed Notes Issue").
Please refer to the attachment for further details on the Proposed Notes Issue.
SINO HUA-AN INTERNATIONAL BERHAD ('Sino' or 'Company')
(I) PROPOSED ACQUISITION OF THE ENTIRE EQUITY INTEREST IN BISTROMALONES (PJ) SDN BHD; AND (II) PROPOSED CALL OPTION Reference is made to the Company's announcement made on 3 April 2019 ("Announcement").
(Unless otherwise defined, capitalised terms used in this announcement shall have the same meaning as those given to them in the initial announcement made on 3 April 2019.)
As disclosed in the item 2.6 of the Announcement, the Purchase Consideration for the Proposed Acquisition will be fully satisfied via cash which is expected to be generated from a fund raising exercise by way of issuance of 1.0% equity-linked redeemable convertible notes in relevant tranches up to an aggregate principal amount of RM200.0 million.
The Board of Directors of Sino wishes to update that there is a change in the source of funding for the Proposed Acquisition. The Purchase Consideration will be fully satisfied via cash which may be generated either from internally generated funds, external borrowings and/or some form of fund raising exercise, if deemed necessary.
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Iron ore prices surged to their highest level in five years on the back of mine closures in Brazil and robust demand, the ABC reported.
Vale’s Feijao mine disaster, which killed around 250 people, has resulted in the loss of around 6% of seaborne supply since late January, the ABC reports.
Chinese President Xi Jinping and US President Donald Trump are expected to meet in Japan on Saturday. Photo: AFPChinese President Xi Jinping and US President Donald Trump are expected to meet in Japan on Saturday. Photo: AFP Global Economy US willing to suspend trade war tariff increase after Trump-Xi meeting at G20 in Japan, report says Chinese President Xi Jinping and US counterpart Donald Trump are set to meet in Osaka on Saturday on the sidelines of the Group of 20 meeting US has already increased tariffs on US$200 billion worth of Chinese imports from 10 per cent to 25 per cent Topic |
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13/05/2019 3:16 PM
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
adamcutie_
3 posts
Posted by adamcutie_ > 2019-06-22 10:12 | Report Abuse
Con stock.