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AustSino to raise $100M to support Sundance and WA ambitions

AUSTSINO Resources Group will become majority-owned by privately-run Chinese concern, Western Australian Port Rail Construction, if a planned A$100 million placement goes ahead, and struggling African iron ore hopeful Sundance Resources stands to be a big winner of a revitalised AustSino.

Haydn Black
AustSino to raise $100M to support Sundance and WA ambitions

A series of agreements announced today could lead to WAPRC securing about a 61% stake in AustSino via the issue of 7.7 billion shares at 1.3 cents.   Once WAPRC has effective control of AustSino, that...

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