Perth-based junior explorer Amex Resources is set to be wholly acquired by one of its shareholders after a lucrative takeover proposal was made, valuing the iron ore hopeful at $54 million.
Mining and engineering contractors were the biggest losers today when the S&P Dow Jones rebalanced all of its Australian indices, with RCR Tomlinson one of the few to buck the trend.
Amex Resources' major shareholder, Kenny Zhang, has agreed to purchase $9 million of the company's shares through a placement priced at $0.95 per share.
West Perth-based gold and copper explorer Amex Resources Ltd has closed at 16 cents in its debut on the Australian Securities Exchange, down 20 per cent on its offer price of 20 cents.
West Perth-based gold and copper explorer Amex Resources Ltd will open its initial public offer today, aiming to raise $4 million for exploration of its tenements.
