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Genmin Ltd. ( (AU:GEN) ) just unveiled an update.
Genmin Limited has received a Letter of Intent from Sino-Hunan International Engineering and Development Co., Ltd (SHICO) to become a key project participant and offtake partner for its Baniaka Iron Ore Project in Gabon. SHICO proposes to finance 60% of the project, with Genmin covering the remaining 40%, and plans to integrate Chinese engineering expertise for cost-effective development. This collaboration aims to enhance the project’s capacity and includes potential long-term offtake agreements, positioning Genmin strategically within the iron ore industry.
More about Genmin Ltd.
Genmin Limited is an emerging African iron ore producer focused on the development of the Baniaka Iron Ore Project in Gabon, Central Africa. The company is listed on the Australian Securities Exchange under the ticker GEN.
Average Trading Volume: 2,222,714
Technical Sentiment Signal: Sell
Current Market Cap: A$9.17M
Learn more about GEN stock on TipRanks’ Stock Analysis page.