Fox has announced this morning that it has SG Australia has paid a 5 cent premium on the fully paid shares and is now listed on the Fox register.
Does this mean that Fox has secured a new JV partner or is this bank taking a strategic view on the Radio Hill Nickel Operations.
Do banks normally invest in Juniour Companies?
I have copied the latest announcment below:
The Company hereby announces that it has made a placement of shares and options to SG Australia Limited (SG). SG is the investment banking arm of the major European bank, Societe Generale. The placement by SG shows their willingness to assist Fox to complete the mining study currently underway into restarting operations at Radio Hill.
The placement will consist of the issue of 1,850,000 ordinary fully paid shares at an issue price of 25 cents per share and 1,850,000 attaching free options (exercisable at 20 cents expiring on 31 January 2006), thereby raising $462,500 for the Company.
FXR Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held