Gunsynd Will Not Buy Additional 22% Stake In Kolosori Nickel Prospect

Fri, 21st Feb 2020 12:08

(Alliance News) - Gunsynd PLC said Friday it will not exercise an option over Kolosori Nickel Ltd, in which the investment firm already holds a 7.8% stake.

In early December, Gunsynd bought the holding in the company, which owns the nickel licence PL05/19 over the Kolosori prospect in the Solomon Islands, for GBP45,000.

In addition to the stake, Gunsynd was also given an option to purchase a further 22% interest in Kolosori for GBP135,000, bringing its total holding to nearly 30%.

Shares in Gunsynd were down 1.4% at 0.014 pence on Friday in London.

By Dayo Laniyan; dayolaniyan@alliancenews.com

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