21st Mar 2014 18:17
LONDON (Alliance News) - CEB Resources PLC Friday said it has received an initial 10% stake in Carbon Investment Soo, in line with the February agreement between the two parties.
Carbon Investment has subscribed for 20 million new CEB shares at 0.715 pence each, in line with the same agreement. The shares are expected to begin trading on March 28.
The two transactions amount to a GBP343,000 investment.
"CEB has now completed its second investment and is well on the way in implementing our investment strategy, we look forward to keeping shareholders and the market updated with progress at both projects," Cameron Pearce, chairman, said in a statement.
CEB announced its first resource investment, the advanced Peelwood VMS Zinc-Copper Project in Australia, in December 2013. In February it announced the advanced Mariola Thermal Coal Project in Poland. Both the Peelwood and Mariola Projects are earn-in investments for up to 49%.
CEB shares Friday closed at 0.650 pence, down 5.1%.
By Samuel Agini; [email protected]; @samuelagini
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