METS

Barminco pays $13.2 million for Eloise

BREAKAWAY Resources has exited the copper business after selling the under-performing Eloise operation in Queensland to mine contractor and major shareholder Barminco in a deal valued at around $13.2 million.

Brad Ricks
Barminco pays $13.2 million for Eloise

Breakaway said the sale would stop the working capital and capital outflow associated with the mine, and that it would retain a 30% net profit interest in the project once Barminco's net profit equals...

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