FINWIRES · TerminalLIVE
FINWIRES

RareX Finds 74 Meter Zone of Copper Mineralization at Niobe Prospect; Shares Fall 7%

By

RareX (ASX:REE) discovered a broad zone of anomalous copper mineralization at the Niobe prospect in Western Australia, with indicative portable X-ray fluorescence (pXRF) readings defining copper enrichment over about 74 meters from 77 meters to 151 meters downhole, according to a Monday Australian bourse filing.

The company said indicative pXRF readings returned a peak of 5,724 parts per million copper, with numerous intervals exceeding 1,500 parts per million copper and elevated readings sustained across much of the zone.

The company's shares fell 7% in recent Monday trade.

What else is happening in Asia?

Asia

Newlink Technology's Potential Acquisition of HK Ant Global Investment Falls Through

Newlink Technology (HKG:9600) terminated a memorandum of intent for the potential acquisition of HK Ant Global Investment.The parties had entered the memorandum in May, a Friday bourse filing showed.

HKG:9600
Asia

New Concepts Raises HK$4.9 Million from Share Issue

New Concepts Holdings (HKG:2221) completed the issue of 5 million new shares to Du Lei to raise net proceeds of nearly HK$4.9 million.The parties had entered into the share subscription agreement earlier in September, a Friday bourse filing showed.The construction company plans to use proceeds for general working capital.

HKG:2221
Asia

Eternity Investment Unit, Director Dispose Of Stake in China Healthwise

Eternity Investment (HKG:0764) unit Eternity Finance and executive director Lei Hong Wai agreed to sell around 169 million and 18.7 million respective shares in China Healthwise (HKG:0348).The shares, representing an 18.3% and 2% stake in China Healthwise, respectively, were sold to Hwa Sheng International Investment at HK$0.08 apiece, a Friday bourse filing showed.The company will receive a consideration of around HK$13.5 million from the disposal and cease to hold any stake in China Healthwise following completion.Proceeds will be used to repay a margin loan, as well as for general working capital.

HKG:0348HKG:0764