EHL 2.47% 83.0¢ emeco holdings limited

News: EHL Hillgrove Resources reaches agreement with Emeco Holdings to acquire Andy's Earthmovers...

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    Nov 22 (Reuters) - Hillgrove Resources Ltd (EHL)

    • Emeco agreement reached to defer payments and reduce mining,ehl-hgo.ax
    • Company has reached agreement with Emeco Holdings Limited to acquire 100% of Andy's Earthmovers (Asia Pacific) Pty Ltd
    • At this date hillgrove copper is expected to owe approximately $10 million to andy's for past charges under rental agreement
    • In conjunction with these reductions Hillgrove Copper will pay andy's a premium on future charges amounting to approximately $5 million
    • Hillgrove Copper will achieve significant net cost savings from these rate changes for remaining term of agreement to september 2019
 
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