M&A

IMX shares soar over inked deal with major Chinese steel group

SHARES in diversified explorer IMX Resources rocketed 26.67% in late morning trade from 60c to 76c, on news the company had inked a heads of agreement with major Chinese steel group Tonghua Mining.

MiningNews.Net
IMX shares soar over inked deal with major Chinese steel group

Under the agreement, Tonghua Mining will buy a 9.99% chunk, or 16.4 million shares, in Perth-based IMX at a 30% premium or 85c per share to the then market price of 60c for a total of $A13.93 million....

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