Renergen’s shares rise as Canadian miner Ivanhoe eyes controlling stake
Canadian miner is initially picking up a more than 4% stake in the emerging helium producer for R200m, and may ultimately buy as much as 55%
14 March 2022 - 09:39
UPDATED 14 March 2022 - 20:51
Shares of emerging natural gas and helium producer Renergen had their best day in more than two weeks on Monday, after it announced a sale of equity deal with Canadian group Ivanhoe Mines, which may spend as much as $250m (R3.76bn) to take a controlling stake in the group.
An initial R200m equity raise on Wednesday will give Ivanhoe a stake of 4.35% in Renergen, which holds SA’s only onshore petroleum development right, Virginia Gas Project in the Free State, which has some of the highest concentrations of helium recorded globally...
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