Harena Resources (HREE ) now owns 100% of the Ampasindava ionic clay rare earth project in Madagascar. The move follows completion of the process to acquire the remaining 25% interest.
Harena has issued 66,666,666 shares of 0.5 pence each as performance shares to the vendor shareholders of Harena Resources Pty Ltd, the intermediate holding company for the project.
“We are pleased to now control 100 per cent of this strategically important, world class, heavy rare earth project and we look forward to moving forward towards production,” said Harena’s Non-Executive Chairman Ivan Murphy.
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Full ownership streamlines decision-making and aligns incentives as the project advances.