Russian billionaire lifts Strike stake

Gallagher Holdings, controlled by Russian billionaire Alisher Usmanov, has spent close to $2 million increasing its majority stake in Strike Resources to over 19 per cent.


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Strike resources is a certain takover target as it holds tenaments for one of the worlds largest high grade magnetite. In May 08 they received offers in the range of $450 million for its Peruvian Iron Ore tenaments valuing Strike shares at around $4.20 per share. It is a good sign to see Gallagher continuing to increase it holdings in SRK.

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