One-time WA iron ore miner Moly Mines, which was delisted from the ASX early this year with nearly 4,000 shareholders and $63 million in the bank, has struck a deal to buy copper stock Queensland Mining Corporation.
Shares in cashed-up Moly Mines have slumped after the company's two most senior executives left the business and it admitted it was likely to suspend trading on the ASX after failing to acquire a new business.
China's Hanlong Mining Investments has been successful in its bid to ditch three independent directors from the board of Perth-based gold, copper and molybdenum miner Moly Mines.
