Original article by Nick Evans
The Australian – Page: 28 : 4-Jul-19
Some 81 per cent of Gindalbie Metals’ shareholders voted in favour of Ansteel’s takeover bid on 3 July. The deal required the support of at least 75 per cent of the struggling iron ore miner’s shareholders. Gindalbie’s key asset is a 48 per cent stake in the loss-making Karara magnetite project in Western Australia, which incurred a blowout in construction and operating costs.
GINDALBIE METALS LIMITED – ASX GBG, ANSHAN IRON AND STEEL COMPANY, SANDON CAPITAL INVESTMENTS LIMITED – ASX SNC