1st May 2018 12:57
LONDON (Alliance News) - Premier African Minerals Ltd on Tuesday said it has accepted an offer made by Arc Minerals Ltd for its holding in Casa Mining Ltd.
The tungsten producer said in November last year Arc Minerals had said it intended to buy all outstanding shares in Casa, having previously had a 70% interest.
Premier African has sold a 4.5% stake in Casa in exchange for 6.1 million Arc Minerals shares, representing a 1.9% holding in Arc Minerals worth GBP150,000 based on its last closing price of 2.45 pence on Monday.
Shares in Premier African were trading 5.0% lower at 0.16 pence each on Tuesday afternoon.
Related Shares:
Premier African MineralsArc Minerals