On the last trading day of the year, Sapphire Corp announced that it has entered into conditional sale and purchase agreements (collectively, the “SPAs”) with each of China Vanadium Titano-Magnetite Mining Company Limited (“CVT”) and Toe Teow Heng (“TTH”) relating to its mining services business, Mancala. Is this a positive or negative development? What are the implications? Let’s take a closer look.   Disposal of Mancala and its implications Subject to the terms and conditions of the SPAs, CVT and TTH have agreed to acquire 49% and 32% of the issued and paid up capital of Mancala Holdings for a […]