Comet shareholders approve Ravensthorpe sale

COMET Resources' shareholders have given the go-ahead for the sale of its remaining portion of the Ravensthorpe nickel laterite project to Billiton for $28 million in cash.

Each shareholder, including the company's biggest shareholder, Comet chairman Roj Jones (who holds an 11% stake) will receive 52c per share at the conclusion of the sale.