The major shareholder in Octagonal Resources is planning to privatise the company after concluding there is no value in its ASX listing, and has proposed a capital reduction that ties in Andrew Forrest-backed A1 Consolidated Gold.
The state government has provided a further $4.6 million for drilling and prospecting activities at 44 projects in Western Australia, including Fortescue Metals Group's Trifecta base metals project.
