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Marengo Mining up 50% today (TSX:MRN or ASX:MGO)
Stock up 50% today
Tuesday, September 1, 2009
Billionaire investor George Soros has renewed his interest in the Australian commodities sector, taking a 20 per cent stake in Papua New Guinea-focused diversified miner Marengo Mining Ltd as part of its recent $A16.3 million ($C14.8 million) capital raising.
Mr Soros has bought 87 million shares in the Perth-based miner for about $C7.6 million ($A8.24 million) through his hedge funds Quantum Partner LDC and Soros Fund Management LLC.
Tuesday, September 1, 2009
Billionaire investor George Soros has renewed his interest in the Australian commodities sector, taking a 20 per cent stake in Papua New Guinea-focused diversified miner Marengo Mining Ltd as part of its recent $A16.3 million ($C14.8 million) capital raising.
Mr Soros has bought 87 million shares in the Perth-based miner for about $C7.6 million ($A8.24 million) through his hedge funds Quantum Partner LDC and Soros Fund Management LLC.
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