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WA iron ore revitalised

HOPGOOD GANIM has advised the Canadian-listed but Australian-based Macarthur Minerals Ltd on a $115.5 million investment deal for one of their magnetite iron ore projects in Lake Giles,…

HOPGOOD GANIM has advised the Canadian-listed but Australian-based Macarthur Minerals Ltd on a $115.5 million investment deal for one of their magnetite iron ore projects in Lake Giles, WA.

China’s LPD Holdings, represented by TressCox lawyers, has agreed to acquire a 30 per cent equity interest in Internickel Australia, the holder of the Lake Giles project, as well as an option to acquire a 50 per cent equity stake from MMS in Internickel, for a price of C$100 million.

Solicitor Richard Hanel from Hopgood’s corporate advistory team worked with corporate advisory partner Michael Hansel on the deal.

Hanel said that the deal shows that while the IPO market has dipped from 2007 levels, there is still massive interest in the resource sector. “This is where Hopgood Ganim sees a number of synergistic merger and strategic investment opportunities arising in the short to medium term,” he said.

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