8th Oct 2014 07:45
LONDON (Alliance News) - Worthington Group PLC, which invests in property, litigation claims, the new economy and emerging markets, said it is in talks to acquire a number of new investments.
In a statement, the investment company said a number of media investments are due to be completed within the next 10 days, which it expects to add significantly to its income stream. It also said it expects to disclose details of the acquisition of two further substantial claims within the next seven days.
In addition, Worthington said it is in talks to acquire a significant number of new investments, including "a majority interest in a substantial international, profitable and cash generative clean energy company; a significant minority interest in a private mining company with large proven reserves which is expected to be quickly cash generative; plus a substantial interest in a listed mining business; and also the acquisition of majority stakes in oil and gas producing assets."
It said that bookings for its Great British Entrepreneur Awards, due to be held in November 2014, are more than 50% up on the same period last year.
Worthington also said its partners, NunaMinerals A/S, and exploration partner Greenland Rare Earth Projects Ltd on Saturday said they completed a helicopter-borne radiometric survey at the Paatusoq Critical Metals Project in South East Greenland.
It said 1529 line-kilometres of data acquisition were conducted by EON Geosciences Inc of St-Laurent, in the province of Québec, Canada.
Worthington said it funded the geophysical program along with Greenland Rare Earth Projects under an option agreement with NunaMinerals.
"We are very pleased to be on schedule. We expect that final data will be with NunaMinerals by November this year and will be used to delineate exploration targets for the 2015 field program. This will target the rare earth elements, niobium, tantalum and zirconium (+/- uranium, thorium) minerals. The company will be reporting back to investors as soon as that data is available," Chief Executive Doug Ware said in a statement.
Worthington shares were Wednesday quoted up 15% at 83.50 pence.
By Samuel Agini; [email protected]; @samuelagini
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