1st Apr 2015 08:48
LONDON (Alliance News) - CEB Resources PLC shares surged Wednesday after it said it has sold its remaining stake in Australian Securities Exchange-listed Balamara Resources Ltd.
CEB shares were up 93.3% to 0.290 pence per share on Wednesday morning.
In October, CEB Resources sold a third of its shares in Balamara, which it had acquired in July following Balamara's purchase of CEB Resources' coal site in Poland. CEB Resources sold more than 5.2 million shares for AUD350,340 at that time.
CEB has now sold its remaining stake in Balamara, selling 9.8 million shares for AUD178,108, representing a much lower price compared with the sale in October last year.
By Joshua Warner; [email protected]; @JoshAlliance
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