Southern Alliance Mining Unit Acquires 40% Stake in Malaysia's MCRE Resources

MT Newswires

Sep 12

Southern Alliance Mining (SGX:QNS) subsidiary, SAM Advance Minerals, completed the acquisition of a 40% stake in Malaysian mining firm MCRE Resources, according to a Friday filing with the Singapore Exchange.

Part of the consideration was settled through the allotment of nearly 148 million shares to vendors worth about 219 Malaysian ringgit. The remaining portion, worth 23.4 million ringgit, will be paid annually over four years.

Shares of the company were down over 1% at the close of trade on Friday.

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The remaining portion, worth 23.4 million ringgit, will be paid annually over four years.</p><p>Shares of the company were down over 1% at the close of trade on Friday.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"QNS.SI","symbol_name":"SouthernAlliance","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2566973223","we_media_id":"1060499803","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2566973223","pubTimestamp":1757674078,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"MT Newswires","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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