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Pelham buys 20% stake in Beacon Hill

22nd March 2013

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

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JOHANNESBURG (miningweekly.com) – Pelham Investments has acquired a 19.6% stake in Aim- and ASX-listed Beacon Hill Resources, the coal producer said on Friday.

Pelham bought 236.26-million Beacon Hill shares from Renaissance Financial at 3 pence apiece, marking Renaissance’s exit as a shareholder of Beacon Hill.

“Pelham is an experienced long-term financial investor and the board welcomes its vote of confidence in the Beacon Hill management and the Minas Moatize project in becoming a significant shareholder in the company,” said Beacon Hill chairperson Justin Farr-Jones.

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Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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