JOHANNESBURG (miningweekly.com) – Aim-listed Ortac Resources has increased its interest in African gold developer Casa Mining from 45% to 84.7%.
The company in November offered to acquire 100% of Casa through the issue of 100-million new ordinary shares.
If the offer is accepted by all shareholders of Casa, which operates the 1.5-million-ounce Misisi gold project, in the Democratic Republic of Congo, the shares will be issued.
To date, Ortac has issued 66.5-million new ordinary shares pursuant to the acquisition, leaving up to 33.4-million new ordinary shares to be issued under a block admission.
The offer remains open until May 10, 2018, and acceptances continue to be received daily, Ortac said.
Following the issue of the new ordinary shares, the total issued share capital of the company will comprise 300-million ordinary shares.