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Xanadu Mines Ltd ( (AU:XAM) ) just unveiled an update.
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 57.58% to 61.22%. This change results from the acceptance of a takeover offer by Bastion Mining Pte. Ltd, which has acquired additional shares, although the transfer of these shares is still pending. The acquisition reflects a strategic move to consolidate control over Xanadu Mines, potentially impacting the company’s operational direction and stakeholder interests.
More about Xanadu Mines Ltd
Xanadu Mines Ltd operates in the mining industry, focusing on the exploration and development of mineral resources. The company is primarily engaged in discovering and developing copper and gold deposits, with a market focus on expanding its resource base and enhancing shareholder value.
Average Trading Volume: 8,777,197
Technical Sentiment Signal: Buy
Current Market Cap: A$181M
Learn more about XAM stock on TipRanks’ Stock Analysis page.