Koreans baulk at cobalt deal as prices tumble

Original article by Paul Garvey
The Australian – Page: 15 : 2-Jan-19

South Korea-based SK Innovation failed to exercise an option to acquire a 19.9 per cent stake in Australian Mines by the deadline of 31 December. Shares in the cobalt producer closed at $0.038 on the day, compared with the options’ strike price of $0.12, prompting speculation that SK Innovation will not exercise the option. A sharp fall in the price of cobalt weighed on Australian Mines’ shares in 2018.

CORPORATES
AUSTRALIAN MINES LIMITED – ASX AUZ, SK INNOVATION, CLEAN TEQ HOLDINGS LIMITED – ASX CLQ

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