SINGAPORE (Aug 7): ISR Capital said that the value of the Madagascar rare earth concession, of which it wants to acquire a 60% stake, will be “much lower” than the two earlier estimates that topped US$1 billion ($1.36 billion).

ISR’s admission of the lower value was made in response to a series of queries by the Singapore Exchange on Aug 2 and to which the company responded on Aug 6.

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