Zeta ups holding in three companies
PERTH (miningweekly.com) – ASX-listed Zeta Resources has executed a binding term sheet that would see it increase its stake in three resource companies.
Zeta on Thursday announced that it would acquire investment holding company Axelrock for 110.8-million shares, at a deemed issue price of 45.2c a share, valuing the transaction at around A$50.1-million.
Axelrock has three investment positions, including in ASX-listed nickel/cobalt explorer GME Resources, bauxite hopeful Alliance Mining Commodities and privately held oil explorer Seacrest, in which Zeta already holds an interest.
As a result of the acquisition, Zeta’s interest in GME will increase from 10% to 44%, while its interest in AMC will increase from 1% to 28%, and in Seacrest from 25% to 41%.
“This value accretive transaction delivers a substantial boost to Zeta’s prospects, considering its position in three attractive resource plays,” said chairperson Peter Sullivan.
The acquisition of Axelrock was subject to a number of conditions, including shareholder and Foreign Investment Review Board approval.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation