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Macarthur shareholders approve sale of Aus subsidiary

26th November 2015

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

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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.

Edited by Creamer Media Reporter

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