Torturous Burmese days for Mallee Resources

Bad news for Financial Review Rich Lister and Western Australian prospector Mark Creasy, whose speculation vehicle Yandal Investments cut its stake in ASX-listed Mallee Resources earlier this month from 11.5 per cent to 6.8 per cent.

Due to the sell-down, he’s less economically exposed to the $US10.2 million ($14.8 million) Mallee Resources has won as part of a deal announced on Monday to sell its stranded Myanmar silver mine to the appropriately named Myanmarese company, 24 Hour Mining and Industry Company Limited.