JOHANNESBURG (miningweekly.com) – Aim-listed North River Resources has received the $2.88-million second-tranche equity funds under its $12-million investment agreement with Greenstone Resources.
Accordingly, Greenstone had been issued with 260.94-million new ordinary shares of £0.002 in North River, which were expected to be admitted to trading on the Aim on November 21.
Following this, Greenstone would hold a 29.48% interest in North River.
North River previously stated that the funds received from Greenstone would be used to further advance the development of the company’s Namib operation, as the company looked to restart production at the underground mine.