Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

IMX Resources Gains Macquarie Group As A New Substantial Shareholder

IMX Resources (ASX: IXR) has added Macquarie Group (ASX: MQG) to its register as a substantial shareholder with a 5.64% interest.

Macquarie became a substantial holder following the completion of IMX's plan of arrangement with Continental Nickel (TSXV: CNI) - with IMX acquiring all of the issued capital in Continental that it didn't already own.

Macquarie now holds 14.8 million shares in IMX.

Following the plan of arrangement with Continental - IMX has now taken control of the Nachingwea Exploration Project in Tanzania, which is highly prospective for nickel and copper sulphide, gold and graphite mineralisation.

Nachingwea currently has a Measured Resource of 28,400 contained nickel tonnes, an Indicated Resource of 126,300 contained nickel tonnes and an Inferred Resource of 135,000 contained nickel tonnes.

IMX will now become a dual-listed company with the stocks shares to commence trading on the Toronto Stock Exchange overnight (18 September) under the ticker code IXR.

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.