Mineral Resources (MinRes) has marked its presence on the Warrego Energy stage, taking a 19.17 per cent stake in the company.
One of the leading mining service providers in Western Australia, MinRes has acquired 234 million shares in Warrego.
While not as large as Strike Energy’s 19.9 per cent stake, MinRes still stands as a major player in Warrego’s future.
MinRes has stated that it believes that gas asset prices in the Perth Basin are currently over-inflated.
Last year the company invested $50 million in Western Australia’s WA Resources Community Investment Initiative, which supports critical infrastructure projects around the state.
Founder and Managing Director Chris Ellison said that the company is proud to play a role in WA’s resources industry.
“MinRes is continuing to grow, creating jobs and building projects in this great state,” he said.
The company also announced its intention to make an off-market take-over bid for Norwest Energy in December 2022.
“We started accumulating what is now the largest acreage position in the onshore Perth and Carnarvon Basins in 2015 with a clearly articulated strategy to lock in a low-cost, long-life energy supply for our operations,” said Ellison.
The company has announced that it has no intention of entering the bidding war between Hancock and Strike.
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