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Blackstone Minerals gains new substantial holder in Korea’s largest cathode manufacturer EcoPro Ltd

The company recently completed a binding share purchase agreement with EcoPro Ltd with the partnership set to benefit the Ta Khoa Nickel-PGE Project in northern Vietnam.

Blackstone Minerals Ltd - EcoPro gains new substantial holder in Korea’s largest cathode manufacturer EcoPro Ltd
EcoPro has appointed Hoirim Jung as its representative on the board of Blackstone Minerals

Blackstone Minerals Ltd (ASX:BLK) has gained a new substantial holder in EcoPro Ltd, Korea’s largest cathode manufacturer, which has a 15.89% stake.

After becoming a substantial holder on April 21 with the purchase of 38.1 million shares, the company increased its holding on June 5 with the acquisition of a further 1.9 million shares.

EcoPro now holds a total of 40 million shares in the company.

EcoPro representative

EcoPro recently appointed Hoirim Jung, who played a key role in the binding share purchase agreement, as its representative on Blackstone's board as part of the conditions of its investment.

He has almost a decade of financial management experience, specifically in financing and feasibility studies for new projects.

Jung began his career with KPMG Samjong Accounting Corporation, one of Korea’s ‘big four’ accounting firms, providing advisory services for various M&A transactions.

In 2016, he joined EcoPro where his accomplishments include the securing of finance for precursor business from foreign investors, as well as successfully dealing with the initial public offering of subsidiary EcoPro BM (KOSDAQ:247540).

Jung's skill set includes corporate strategy, capital raises, and business development.

Quick facts: Blackstone Minerals Ltd

Price: 0.395 AUD

Market: ASX
Market Cap: $100.14 m

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