I just spoke to someone in the know at BMR, the HXG stake was bought by a large US fund who is going to cornerstone the BMR IPO next year. I realise there are some who think HXG should have waited for the IPO before cashing in but I they didnt have that luxury and who can predict the future. Much better to have the cash in the bank now and concentrate on developing the HXG assets.
Ann: US$1 Million Raised from Sale of Non Core Investment, page-7
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