Bootu to buy out GEMCO manganese

OM HOLDINGS subsidiary Bootu Creek Resources has bought out its JV partner Groote Eylandt Mining’s (GEMCO) 25% interest in the Bootu Creek project for US$15.32 million as the company moves towards a $21 million placement.

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The $21 million placement of 20 million ordinary shares at $1.05/share will be conducted through Euroz Securities and requires shareholder approval to be sought in early December.

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