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BlackGold gains 12.5% on proposed reverse takeover
Add BT as a preferred sourceLisa Kriwangko
Singapore
SHARES of BlackGold Natural Resources rose 12.5 per cent on Friday, after the Catalist-listed company proposed to acquire Tengri Coal and Energy (TEC) for a tentative S$1 billion - to be adjusted following an independent valuation.
TEC owns the entire issued and paid-up share capital of Tengri Petrochemicals (TPL), which in turns owns the share capital of Tsaidam Energy.
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