Mining News

Sable to undertake rights issue at R1 a share followed by transaction at R5 a share

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The rights issue that Johannesburg Stock Exchange-listed Sable Exploration and Mining is to undertake at R1 a share will be followed by a transaction at R5 a share, giving an immediate fivefold uplift to the shareholders of the company. This follows mining company Magni Investment Holdings announcing its intention to acquire a majority stake in Sable Exploration and Mining – formerly Middle East Diamond Resources – and its subsidiaries.

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