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BeMaX secures SOG backing for Ginkgo development study

FRESH from fighting off a hostile takeover bid by Iluka Resources, BeMaX Resources has secured the backing of Sons of Gwalia to help fund the $6 million bankable feasibility study for its flagship Ginkgo mineral sands deposit in Australia's Murray Basin.

Greg Tubby

BeMaX today announced a placement of 7,777,997 million ordinary BeMaX shares at 24c each to Sons of Gwalia, raising $1.87 million and giving Sons of Gwalia an initial 10% stake in the Queensland-based...

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