SINGAPORE (Oct 15): After much twists and turns in a long-running saga, ISR Capital announced this morning it will convene an EGM on Oct 30 to seek shareholder approval for the acquisition of the rare earth mining concession in Madagascar.

ISR Capital wants a 60% controlling stake in Tantalum Holding (Mauritius), which owns 100% of Tantalum Rare Earth Malagasy S.A.R.L.U. (TREM). TREM holds an exploration licence for the Madagascar concession.

The $3 million proposed acquisition will be satisfied by the issue of 747.3 million new ISR Capital shares at 0.4 cent each.

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