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Flinders Mines Limited ( (AU:RHK) ) has shared an announcement.
Fortescue Ltd, through its subsidiary FMG Pilbara Pty Ltd and associated entities, has increased its voting power in Red Hawk Mining Limited (RHK) to 91.57%, up from 90.09%. This change in interest is primarily due to FMG Pilbara’s off-market takeover bid and additional on-market purchases of RHK shares at $1.20 per share. As a result, FMG Group and its affiliates, including Tattarang Pty Ltd, have strengthened their control over RHK. The acquisition reflects a strategic move to consolidate their position within the mining industry.
More about Flinders Mines Limited
YTD Price Performance: 45.00%
Average Trading Volume: 1
Technical Sentiment Consensus Rating: Sell
Current Market Cap: €155M
For a thorough assessment of RHK stock, go to TipRanks’ Stock Analysis page.