CMT’s share price increased for the second straight trading day last Friday 05 December 2014. CMT announced that it will issue up to 7B shares in order to fund its expansion plans, with no specific price/shr given. The company also recently announced the intention to acquire 100% of Ferrochrome Resources Inc. (FRI) and Southeast Palawan Nickel Ventures Inc. for US$30M and US$50M, respectively. FRI has an operating agreement with Zambales Diversified Metals Corp. covering 3,765Ha to explore, develop, and use surface and underground chromite and other platinum group metals mineralization.
source: BPI Trade