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Proactiveinvestors is a leading multimedia news organization, investor portal and events management business with offices in New York, Sydney, Toronto and London. Proactiveinvestors operates five financial websites in four languages providing breaking news, comment and analysis on hundreds of... More
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  • Elemental Minerals Gains Genesis Asset Managers LLP As Substantial Shareholder 0 comments
    Nov 27, 2012 1:01 AM

    Elemental Minerals (ASX: ELM, TSX: ELM) has a new substantial shareholder, with Genesis Asset Managers LLP now holding 13.079 million shares - which equates to a 5.37% stake.

    Genesis is based in the United Kingdom and operates emerging markets equity funds.

    Elemental 93% owns the Sintoukola Potash Project, which is a low-cost, high-grade Sylvinite Potash Project located in the Republic of Congo.

    The company recently received private placement commitments from sophisticated and institutional investors to raise around A$14 million, with the company also launching a share purchase plan for a further A$5 million - with the funds to advance the development of our project

    The potential of the project has not been lost on the broker community, with Dundee Securities placing a 12-month share price target of C$1.30 (A$1.25) on the stock earlier in the month, which is over three times the last traded price.

    Providing further support for Elemental's operations, Canadian investment bank Northern Securities placed a more bullish $2.70 price target on the company two months ago.

    Proactive Investors is a market leader in the investment news space, providing ASX "Small and Mid-cap" company news, research reports, StockTube videos and One2One Investor Forums.

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