Singapore mining firm to list on ASX

LOCAL firm Poh Group is heading for the Australian Securities Exchange (ASX) for the listing of its mineral resources company Tian Poh Resources Limited.

Tian Poh hopes to raise up to A$6 million (S$7 million) through the sale of between 10 million and 30 million new shares at A$0.20 apiece for the exploration and development of its mines in Mongolia.

Tian Poh said it holds 10 concessions spanning 125,000 hectares that are located in the same province as two of the world's top 10 largest mineral deposits, Oyu Tolgoi and Tavan Tolgoi.