11th Apr 2014 08:50
LONDON (Alliance News) - Shares in URU Metals Ltd rose Friday morning after it said it had completed the acquisition of Umnex Minerals Limpopo Ltd and confirmed its 100% interest in the Zebediela Nickel Project in South Africa.
The base metals and uranium explorer and development company said that it is now the legal and beneficial owner of the Zebediela Nickel Project.
The Zabediela project holds a combined inferred and indicated resource of over 1.5 billion tonnes of nickel and a preliminary economic assessment completed for the site in 2012 showed an indicated resource of 495.4 million tonnes averaging 0.245% nickel.
URU Metals shares were up 17.6% Friday morning at 1.29 pence, the biggest rise on AIM.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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