Imdex (ASX:IMD) strengthens US$ gold hedge book

Company News

by Rachael Jones

Leading global Mining-Tech company, Imdex (ASX:IMD) has completed the acquisition of Flexidrill and its patent protected technologies, COREVIBE™ and MAGHAMMER™.

They paid NZ$3 million cash.

Commenting on the acquisition, IMDEX Managing Director, Mr Bernie Ridgeway said: “Flexidrill is an excellent strategic fit. We are confident these new technologies will provide substantial value to our clients within the minerals industry and significant revenue and earnings for IMDEX.

IMDEX will provide an update regarding COREVIBE™ and MAGHAMMER™ with its 1H20 results announcement on 17 February 2020.

Shares in Imdex (ASX:IMD) closed flat at $1.47 on Friday.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.