ISR Capital is acquiring a 19.9% stake in Mauritius-registered Tantalum Holding.
Tantalum Holding fully owns Tantalum Rare Earth Malagasy S.A.R.L., a rare earth mineral company incorporated in Madagascar.
Tantalum Rare Earth holds a permit to explore and develop a concession that hosts rare earth elements such as Dysprosium, Europium, Neodymium, Terbium and Yttrium.
The concession measuring about 74,131.6 acres is located on the northwest coast of Madagascar, about 500 km north of the capital city Antananarivo.
On Thursday, ISR Capital entered into a sale and purchase agreement with REO Magnetic, a Singapore-incorporated company.
ISR Capital will pay $13.3 million for the acquisition via the allotment and issuance of new shares in the company at 10 cents each.
ISR Capital is involved in the business of proprietary investment, investment advisory and fund management, focusing in the natural resource space.
It says the acquisition in Tantalum Holding provides a "good opportunity" to obtain a stakeholding in a rare earth mineral asset.
While the concession is still in its exploration stages, the company says this allows it to gain more experience by participating in the business and activities of Tantalum Holding and Tantalum Rare Earth.
Shares of ISR Capital ended lower at 9 cents on Thursday.
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Tantalum Holding fully owns Tantalum Rare Earth Malagasy S.A.R.L., a rare earth mineral company incorporated in Madagascar.
Tantalum Rare Earth holds a permit to explore and develop a concession that hosts rare earth elements such as Dysprosium, Europium, Neodymium, Terbium and Yttrium.
The concession measuring about 74,131.6 acres is located on the northwest coast of Madagascar, about 500 km north of the capital city Antananarivo.
On Thursday, ISR Capital entered into a sale and purchase agreement with REO Magnetic, a Singapore-incorporated company.
ISR Capital will pay $13.3 million for the acquisition via the allotment and issuance of new shares in the company at 10 cents each.
ISR Capital is involved in the business of proprietary investment, investment advisory and fund management, focusing in the natural resource space.
It says the acquisition in Tantalum Holding provides a "good opportunity" to obtain a stakeholding in a rare earth mineral asset.
While the concession is still in its exploration stages, the company says this allows it to gain more experience by participating in the business and activities of Tantalum Holding and Tantalum Rare Earth.
Shares of ISR Capital ended lower at 9 cents on Thursday.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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