Singapore-listed Blumont Group, one of a trio of penny stocks that crashed in October, is facing additional woes.
The mining group is being sued by Australian miner Prospect Resources, over its decision to terminate a deal to invest A$3.9 million ($4.5 million) in the company.
On Oct 31, Blumont announced it was scrapping the deal as it was of the view that the Australian firm could not fulfil a critical condition: that of getting the paperwork done for Prospect Resources' acquisition of two gold projects in Zimbabwe.
Blumont, along with related companies Asiasons Capital and LionGold Corp, saw a meteoric rise in its share price for the first nine months of the year before its counter plummeted in October.
http://www.straitstimes.com/breaking-news/money/story/troubled-blumont-sued-australian-miner-over-scrapped-investment-plans-2013
𝟓 𝐒𝐢𝐧𝐠𝐚𝐩𝐨𝐫𝐞 𝐒𝐭𝐨𝐜𝐤𝐬 𝐃𝐞𝐟𝐲𝐢𝐧𝐠 𝐭𝐡𝐞 𝐌𝐚𝐫𝐤𝐞𝐭
𝐃𝐫𝐨𝐩 — 𝐌𝐲 𝐓𝐨𝐩 𝐏𝐢𝐜𝐤𝐬 𝐈𝐧𝐭𝐨 𝐘𝐞𝐚𝐫-𝐄𝐧𝐝 𝟐𝟎𝟐𝟓
-
The markets have been shaky lately…
But I've spotted *5 Singapore stocks* that are defying the drop — showing
strength, momentum, and bullish setu...
1 day ago
No comments:
Post a Comment