https://www.miningweekly.com

Padbury reveals name of mysterious benefactor

Padbury reveals name of mysterious benefactor

Photo by Bloomberg

23rd April 2014

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – ASX-listed Padbury Mining has revealed the source of its $6.5-billion funding to build the Oakajee port and rail project, but its shares remained in suspension.

Earlier this month, Padbury announced that private Australian equity investors would provide the funding, but the miner failed to disclose the name of the investor, and instead suspended share trade as stock prices increased.

On Wednesday, Padbury confirmed that Sydney entrepreneur Roland Frank Bleyer was the source of the funding, through Alliance Super Holdings and its parent company Superkite.

Superkite is wholly owned by Kirep, which is controlled by Bleyer.

Padbury told shareholders that its shares would remain suspended until April 24, at which point the company was expected to reveal details around the funding transaction.

The West Australian reported that the funding offer would include the requirement for Padbury to find 20% of the project funding from other sources, but the company did not address this claim.

Edited by Creamer Media Reporter

Comments

Showroom

SAIMC (Society for Automation, Instrumentation, Mechatronics and Control)
SAIMC (Society for Automation, Instrumentation, Mechatronics and Control)

Education: Consulting with member companies to obtain the optimal benefits from their B-BBEE spending, skills resources as well as B-BBEE points

VISIT SHOWROOM 
Rio-Carb
Rio-Carb

Our Easy Access Chute concept was developed to reduce the risks related to liner maintenance. Currently, replacing wear liners require that...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

PGMs and green hydrogen make headlines
PGMs and green hydrogen make headlines
19th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.102 0.138s - 88pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: