"Pilbara nickel explorer and producer, Fox Resources Limited (Fox) (ASX: FXR) is pleased to announce today that China’s largest nickel producer, Jinchuan Group Limited (Jinchuan), has entered into a strategic agreement to take an equity stake in the Company. Under the agreement, Jinchuan will subscribe for 18,800,000 fully paid ordinary shares in Fox at a premium issue price of A$0.95. As a result, Jinchuan will own 11% of the issued shares in Fox. Jinchuan will be issued a further 8,000,000 attaching options exerciseable at A$1.20 expiring 12 months after the issue of the 18,800,000 fully paid ordinary shares."
So this news was already out there - but now the market reacts to it? Not complaining, but seriously do not understand it!!!
61c up. Good on th eperson who got in last week. Already made 20% :)
FXR Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
