The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Weatherly International plc (LON:WTI) announced a new agreement to increase its ownership of China Africa Resources Namibia Limited (CARN) from 25 percent to 90 percent. CARN is a private Namibian company which entirely owns Berg Aukas underground zinc, lead and vanadium project near Grootfontein. It was previously held by China Africa Resources plc (CAR). Weatherly is an AIM listed copper miner operating in Namibia with principal assets such as Tschudi Mine and the Otjihase Project. The Tschudi Mine is an open pit mine producing refined copper cathode. Following todays announcement, Weatherly and ECE will enter a binding agreement where Weatherly will purchase all of ECE�s shares in CARN for a cash consideration of $600,000. Advertisement However, the transaction is still awaiting regulatory approval in Namibia. When the approval is granted, the full amount will be paid to ECE, either funded through operations or by a facility issued by Orion Mine Finance. Last week, the junior miner also announced that the shareholders of ASX-listed Intrepid Mines Limited (Intrepid) had passed the pending transaction on the Kitumba Project in Zambia. Zambian regulatory approval by the Zambian Ministry of Mines and Minerals Development is required to finalise the deal. Weatherly�s interest in Kitumba is focused on the copper oxide minerals and sulphide found in the prospect. Today�s announcement gave a boost to the WTI�s shares, up 16 percent to 2.40p, as of 13:00 (GMT). SHARE Facebook Twitter Previous article German bonds yields rise to highest levels since 2015, stocks plunge Next article Caledonian Trust to sell property St Margaret�s House for �15m RELATED ARTICLESMORE FROM AUTHOR Tesco Tesco set to face record �4bn equal pay claim Highlands Natural Resources Highlands Natural Resources shares rise after successful DT Ultravert results tesco supermarket Tesco fraud trial is putback as ex-director is hospitalised Sponsored Sections Home Companies World Economy Markets Politics Money Tech Lifestyle Observer Latest Tesco Tesco set to face record �4bn equal pay claim Nicole Jeary - February 7, 2018 0 Tesco (LON:TSCO) is potentially set to face a record �4 billion equal pay claim, according to a law firm representing many of its female... house prices House prices fall for the second consecutive month, says Halifax February 7, 2018 Highlands Natural Resources Highlands Natural Resources shares rise after successful DT Ultravert results February 7, 2018 tesco supermarket Tesco fraud trial is putback as ex-director is hospitalised February 6, 2018 Women�s vote: Rudd claims pardoning suffragettes is �complicated� February 6, 2018 Recent Posts Tesco set to face record �4bn equal pay claim House prices fall for the second consecutive month, says Halifax Highlands Natur