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(Alliance News) - Resources investor Gunsynd PLC on Tuesday announced it has invested over USD100,000 into existing investee Oyster Oil & Gas Ltd.
The USD130,000 investment will see Gunsynd take another 108 Oyster shares, giving it an approximate 30% stake, from just over 20% before.
Oyster will use the funds to meet some licence obligations at its assets in Madagascar. Oyster has agreed in principle to extend its current exploration phase for two years in the country.
Gunsynd shares up 1.7% on Tuesday morning in London at 0.024 pence each.
