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Chrometco Ltd (CMOJ)

Johannesburg
Currency in ZAR
Disclaimer
6
0(0.00%)
Closed

CMOJ Comments

Chrometco Limited, currently listed on the Alt-X section of the JSE, has recently entered into conditional agreements with the Sail Group of Companies. These agreements will result in Sail acquiring just under 90% of Chrometco. In exchange, Chrometco will receive: Cash A controlling stake in two fully financed chrome projects A stake in Sail Minerals Sail is an international commodity trading company with a special focus on chrome. They are known for inventing the Chrome market’s benchmark product, Run Of Mine (ROM). Sail has exported a significant volume of chrome ore over the past few years and recently acquired two chrome assets in the Eastern and Western Limb of the Bushveld Igneous Complex. These projects are expected to produce up to 1 million tons of high-grade chrome ore per year at a competitive cost1. However, it’s important to note that Chrometco has faced challenges, including auditing woes and legal battles, which led to the suspension of its shares on the JSE since J
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