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Xanadu Mines Substantial Holder Increases Stake

Story Highlights
  • Xanadu Mines Limited’s substantial holder, Mr. Ganbayar Lkhagvasuren, increased his voting power to 73.59%.
  • The increase in voting power results from a takeover offer by Bastion Mining Pte. Ltd., impacting company control.
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Xanadu Mines Substantial Holder Increases Stake

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Xanadu Mines Ltd ( (AU:XAM) ) has shared an update.

Xanadu Mines Limited has announced a change in the interests of its substantial holder, Mr. Ganbayar Lkhagvasuren, with an increase in voting power from 70.29% to 73.59%. This change results from the acquisition of shares through the acceptance of a takeover offer made by Bastion Mining Pte. Ltd. The acquisition signifies a strategic consolidation of control within the company, potentially impacting its governance and operational decisions.

More about Xanadu Mines Ltd

YTD Price Performance: 61.22%

Average Trading Volume: 8,801,497

Technical Sentiment Signal: Buy

Current Market Cap: A$182.2M

For a thorough assessment of XAM stock, go to TipRanks’ Stock Analysis page.

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