ISR is acquiring a 60% stake in Tantalum Holding (Mauritius) (THM) which owns 100% of Tantalum Rare Earth Malagasy SARLU (TREM), which in turn holds an exploration licence for a rare-earth mining concession in Madagascar.
SINGAPORE (Jan 10): Singapore Exchange Regulation (SGX RegCo) has ordered the ISR Capital to hold an extraordinary general meeting (EGM) as soon as possible to seek shareholder approval for the waiver of condition related to its acquisition of a mining concession in Madagascar.
SGX RegCo also said that the US$10 million to US$15 million preliminary estimates provided by ISR Capital would have to be adjusted and updated over time as the numbers were derived by chairman Chen Tong based on his mine development experience and through discussions with consultancies.
