What’s going on at Alliance Mineral Assets?

SINGAPORE (July 14): Shares in tantalum mining company Alliance Mineral Assets (AMA) were suspended from trading this morning as the company said it needed more time to release an update on its Bald Hill Project.

This comes amid a dispute over an informal joint-venture agreement made eight years ago, which has cast a pall of uncertainty over the ownership of AMA.

It all began when a major shareholder of AMA, Living Waters Mining (Australia), on June 17 announced it had disposed of nearly 46.1 million shares in an off-market transaction for more than $14.7 million — which works out to about 32 cents a share.

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