CAPITAL MARKETS

KIS and Hunan agree to scheelite JV

AUSTRALIAN tungsten play King Island Scheelite has signed a joint venture agreement with Chinese based Hunan Nonferrous Metals to help fund and develop its proposed scheelite mine on King Island, Tasmania.

Michael Bennet

Under the agreement KIS will issue 4.4 million new ordinary shares at $1 a share to HNC, giving the Chinese group a 10% stake in the Sydney-based junior. Both parties will share a 50% interest in ongoing...

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