Obtala sells Firestone stake

Obtala Resources has raised £4.9m by selling its shares in AIM-quoted Firestone Diamonds. AIM-quoted Obtala obtained the 22.65m shares when Firestone took over Kopane Diamonds, in which Obtala had a 16.15% stake. Firestone made an all-share offer.The shares were sold last Friday when Firestone was trading at just over 24p a share. Obtala obtained a share price of just under 22p for the shares it sold. Including other disposals, the overall profit on the initial investment of £1.75m in March 2009 was £4.94m.