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SVH eyes Australian phosphate

July 13, 2010 - 00:00 GMT

KEYWORDS: Swift Venture , SVH , GBM Resources , phosphate , Australia , Queensland , Asia , Singapore

Singapore investor SVH targets GBM’s phosphate at Mount Isa in Queensland

Drilling completed by GBM in December 2008 confirmed widespread phosphate mineralisation at the Bungalien tenement with peak phosphate values of more than 22% P2O5. Total reserves have not been released yet.

Under the terms of the agreement, SVH can acquire an 80% interest in the phosphate assets for A$2.8m. ($2.44m.) by subscribing for a placement of 28m. shares at an issue price of A$0.1 by the end of...

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