M&A

Under pressure New Energy looking for new project

FORMER ruby hopeful New Energy Minerals has again changed corporate direction, this time selling the 40% it owns in the Caula vanadium-graphite project in Mozambique for A$7 million after being put under pressure by private equity firm Arena and its claim to be owed $5.1 million.

 New Energy is looking to roll on with another venture in the resources sector after deciding to exit the 2018-scoped Caula project

New Energy is looking to roll on with another venture in the resources sector after deciding to exit the 2018-scoped Caula project

New Energy is selling its Caula interest to Hong Kong-based businessman Louis Ching, with Ching already owning 40% of the project following a $3.5 million deal for that stake with the ASX-listed New Energy...

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