SINGAPORE (Nov 16): ISR Capital is pushing ahead with its planned acquisition of a stake in a Madagascar tantalum concession, even though it is now tacked with a vastly lowered valuation of just US$48 million ($65.1 million) from more than US$1 billion estimated earlier.

See: Third independent assessment puts 'most likely value' of ISR Capital's Madagascar concession at US$48 mil

In an after-market announcement on Thursday, ISR Capital says it will submit an application to the Singapore Exchange to issue and list about 674.8 million shares.

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