Quay Magnesium (ASX:QMG) Announce Magnesium Plant Acquisition and Nanjing Plant Recovery
On 25 March and 21 April 2008 Quay Magnesium Limited (Quay)(ASX:QMG) announced the signing of Heads of Agreement for the potential acquisition of interests in two pure magnesium plants to supply feedstock for its Nanjing alloy plant. Due diligence has been completed on both potential targets and a decision has been made to proceed with one of these.