Alliance Mineral Assets to list strategic placement shares on SGX Catalist
Friday, 24 May 2019 Alliance Mineral Assets Ltd’s (ASX:A40) (SGX:40F) new shares related to its recent placements will be listed on the Catalist Board of the Singapore Exchange (SGX-ST) within a week. The new shares will be issued to Galaxy Resources Ltd (ASX:GXY) and a subsidiary of China-based Jiangxi Special Electric Motor Co (Jiangte). READ: Alliance Mineral Assets Ltd enters strategic placements with Galaxy and Jiangte to raise $32.5 million The institutional placement with Galaxy will comprise the issue of 112.5 million shares whereas Jiangte will receive 50 million through a conditional placement. Both placements were not underwritten and were managed and arrangement by Canaccord Genuity who will be issued 6.125 million shares. The listing of the new 168,625,000 shares on the SGX-ST is subject to shareholder approval at an extraordinary general meeting (EGM) to be convened in due course. Alliance had notched up quarterly records for lithium production and shipping totals from the Bald Hill Lithium and Tantalum Mine in Western Australia. Lithium production for the March 2019 quarter was 68% higher than the previous quarter with 38,291 wet metric tonnes (wmt) of high-grade spodumene concentrate produced grading 6.1% lithium carbonate.
In trading on Thursday, precious metals shares were relative leaders, up on the day by about 5.4%. Leading the group were shares of Eldorado Gold, up about 14% and shares of Yamana Gold up about 10.8%..
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Alliance Mineral Assets Limited (ASX:A40) has achieved another strong quarter of production from its Bald Hill Lithium and Tantalum Mine in WA with 38,717 wet... Proactive Investors Also reported by •GlobeNewswire