Macarthur shareholders approve sale of Aus subsidiary
JOHANNESBURG (miningweekly.com) – TSX-V-listed Macarthur Minerals on Thursday said its shareholders had backed plans to shed subsidiary Macarthur Iron Ore.
Last month, the owner of the Western Australian iron-ore projects entered into a share sale agreement with GIM Australia in a deal valued at A$6-million.
“95% of shareholders participating in the meeting voted in support of the sale. This marks a key condition towards completing the transaction,” Macarthur Minerals chairperson Earl Evans said in an update on Thursday.
The transaction was on track for completion in December.
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