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Xanadu Mines Ltd ( (AU:XAM) ) just unveiled an announcement.
Xanadu Mines Ltd has announced a change in the substantial holding of its shares, with Mr. Ganbayar Lkhagvasuren and associated entities increasing their voting power from 80.81% to 86.80%. This change results from the acceptance of a takeover offer by Bastion Mining Pte. Ltd., which has not yet been fully registered despite being declared unconditional. The increase in voting power signifies a consolidation of control, potentially impacting the company’s strategic direction and stakeholder interests.
More about Xanadu Mines Ltd
Xanadu Mines Ltd operates in the mining industry, focusing primarily on the exploration and development of mineral resources. The company is known for its involvement in the discovery and development of copper and gold deposits, with a market focus on expanding its resource base and enhancing shareholder value.
YTD Price Performance: 61.22%
Average Trading Volume: 8,629,803
Technical Sentiment Signal: Buy
Current Market Cap: A$181M
Learn more about XAM stock on TipRanks’ Stock Analysis page.