Posted in | News | Iron Ore | Mining Business

Talisman Mining to Sell Iron Ore Projects to E-Com Multi Ltd

Talisman Mining (ASX:TLM) is selling two of its iron ore projects to a fellow Perth based company E-Com Multi Limited. The two iron ore projects are at Wonmunna and Uaroo.

The sales will generate $41.35 million for Talisman Mining of which $34.25 million will be cash and $7.1 million shares in E-Com Multi Limited.

E-Com Multi Ltd is shifting its focus from technology, telecommunications and e-commerce to resources. The executive director of corporate affairs for E-Com, Vaz Hovanessian said that it will continue to actively pursue strategically placed iron ore projects in the Pilbara region. Openly inviting prospects for more acquisitions in the iron ore industry in the same region the company is showing how serious it is about this change in focus.

The technology based company will also be asking the shareholder to approve of a restructuring of the company which will allow a new name, management team, capital structure and operational focus. The Wonmunna acquisition will deliver E-Com a strategic landholding and resource from which it intends to build a significant Australia Focused iron ore and infrastructure company.

Joel Scanlon

Written by

Joel Scanlon

Joel emigrated to Australia in 1995 and worked for five years in the mining industry as an exploration geotechnician, using GIS mapping and CAD software. Upon moving to the North Coast of NSW, Australia Joel worked as a graphic designer for a leading consultancy firm. After that, he ran a successful business providing web services to businesses along the eastern seaboard of Australia. During this time, he developed and launched News-Medical.Net. Joel has been working with AZoNetwork since the company was founded in 2000.

Citations

Please use one of the following formats to cite this article in your essay, paper or report:

  • APA

    Talisman Mining Ltd.. (2019, February 18). Talisman Mining to Sell Iron Ore Projects to E-Com Multi Ltd. AZoMining. Retrieved on June 07, 2023 from https://www.azomining.com/News.aspx?newsID=408.

  • MLA

    Talisman Mining Ltd.. "Talisman Mining to Sell Iron Ore Projects to E-Com Multi Ltd". AZoMining. 07 June 2023. <https://www.azomining.com/News.aspx?newsID=408>.

  • Chicago

    Talisman Mining Ltd.. "Talisman Mining to Sell Iron Ore Projects to E-Com Multi Ltd". AZoMining. https://www.azomining.com/News.aspx?newsID=408. (accessed June 07, 2023).

  • Harvard

    Talisman Mining Ltd.. 2019. Talisman Mining to Sell Iron Ore Projects to E-Com Multi Ltd. AZoMining, viewed 07 June 2023, https://www.azomining.com/News.aspx?newsID=408.

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Your comment type
Submit