Chinese firm to bail out Crowflight
Nov 29, 2010 | 01:11 PM
| Thorsten Schier
King Place Enterprises Ltd., a Chinese-owned investment firm, stands to increase its control of Canadian junior mining company Crowflight Minerals Inc. to between 60 and 80 percent as cash-strapped Crowflight tries to restart its mining operations at its Bucko Lake nickel mine near Manitoba, a source familiar with the matter said.
"(King Place) would be in clear majority control," the source told AMM.
Debt-ridden Crowflight announced Monday private placement financing for Canadian $10 million ($9.78 million) issued to King Place, which is registered in the British Virgin Islands. ....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute — no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Subscribe Now
Click Here
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.
Take a Free trial
Click Here