Havilah Resources shareholders have rejected UK industrialist Sanjeev Gupta’s GFG Alliance’s up to $A100M proposed investment in the iron ore/copper developer’s South Australian projects that could have given GFG at 51% stake in the company.
Today’s EGM vote saw 76.4% of shareholders vote against the move and 23.6% for it. The EGM vote centred around Havilah’s Technical Director Dr Chris Giles, whose Trindal P/L is the company’s largest shareholder and who earlier supported the deal.
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