Sabre Resources’ vanadium acquisition strategy is strongly supported by market
Date:Apr 25, 2018
Sabre Resources Limited’s (ASX:SBR) news of its intended acquisition of three vanadium projects in Western Australia has been well received by the market with shares surging 94% to a new 12-month high.
The company has traded at up to 3.1 cents on strong volume of more than 48 million.
As well as the proposed acquisition of Kinetic Metals Pty Ltd, Sabre’s surge has been supported by a heavily subscribed placement raising about $1.588 million and the proposed spin-out of its Namibian assets.
Sabre intends to acquire Kinetic Metals
Sabre has entered into a binding share sale agreement to acquire Kinetic, which holds the Speewah, Unaly and Balla vanadium projects.
This follows the company’s recent acquisition of the advanced Sherlock Bay Nickel-Cobalt Project.
The acquisitions position Sabre well to take advantage of dynamic market conditions relating to the battery-metals sector.
