By Bianca Boorer
Date: Friday 09 Dec 2016
LONDON (ShareCast) - (ShareCast News) - Premier African Minerals, an AIM listed mining exploration and production company, has decided not to exercise its option to acquire up to 30% in Casa Mining Limited.
After acquiring a 4.5% interest in Casa Mining on 18 October 2016 the miner had an option to increase its interest up to 30% within a 60 day period.
Chief executive George Roach said: "Our current market capitalization does not reflect the value of the underlying assets and accordingly we will not proceed with a direct financing to pursue the interest available in Casa. We remain strongly supportive of Casa and believe the project has great value and would generate significant value for Premier shareholders. I am pleased that Premier and Casa have agreed to work cooperatively to attempt to find a solution to both the consolidation of the Casa interests and appropriate finance to fully develop the project."
The share price rose 10.55% at 0939 GMT on Friday.
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Currency | UK Pounds |
Share Price | 0.19p |
Change Today | 0.000p |
% Change | 0.00 % |
52 Week High | 1.00 |
52 Week Low | 0.16 |
Volume | 48,345,128 |
Shares Issued | 29,617m |
Market Cap | £56.27m |
Value |
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Price Trend |
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Income |
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Growth |
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No dividends found |
Time | Volume / Share Price |
16:07 | 66 @ 0.20p |
16:01 | 5,128 @ 0.20p |
15:58 | 268,240 @ 0.19p |
15:55 | 536,480 @ 0.19p |
15:48 | 49,964 @ 0.20p |
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