Fortune Mojapelo
JOHANNESBURG (miningweekly.com) – Aim-listed Bushveld Minerals has increased its stake in ASX-listed Lemur Resources to 57.21%.
The company has agreed to acquire a further 10-million shares in Lemur from vendors, including Azure Resources Fund, in exchange for 8-million new ordinary shares in Bushveld.
Bushveld previously held a 52.22% interest in Lemur.
“We are pleased that, with this acquisition, Bushveld is strengthening its majority interest in Lemur, further aligning the interests of Lemur and the company as we continue to build the Bushveld Minerals Group's diversified portfolio of commodity-focused platforms,” commented Bushveld CEO Fortune Mojapelo.
Lemur is a coal exploration company with interests in Madagascar.