Dongyi Hua-led VDM Group is looking to strengthen its balance sheet by signing a share placement agreement with a private investor to raise $3 million.
Chinese private investor Australia Kengkong Investments Co could own a 45 per cent stake in Perth-based VDM Group and secure a seat on its board, as part of a $10 million convertible loan agreement announced today.
VDM Group has responded to rumours it will acquire mining rights at an Angolan copper project by saying the potential acquisition is incomplete with no certainty on its terms.
11 Aug 2014
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