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Regis buys stake in Malagasy Minerals

Regis buys stake in Malagasy Minerals

Photo by Bloombeg

9th December 2015

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Gold miner Regis Resources has taken a 9.9% shareholding in fellow-listed Malagasy Minerals

Malagasy on Wednesday reported that it had raised A$1.5-million through a share placement to corporate and sophisticated investors, with the company issuing some 45.45-million shares.

Regis subscribed for more than 38.4-million of these shares, which had been priced at 3.3c each.

Malagasy holds exploration tenements in Madagascar, and was currently focused on graphite and nickel-copper-platinum group elements.

The share placement was subject to Malagasy completing the acquisition of Greenmount Resources, which holds the Karlawinda gold project, in Western Australia.

The project hosts the Bibra deposit, which has a Joint Ore Reserves Committee-compliant resource of 18-million tonnes, grading 1.1 g/t gold for 650 000 oz of gold.

Edited by Creamer Media Reporter

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