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Provider: Reuters Investment Profile

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Savannah Resources PLC to sell subsidiary NewMines Holdings Limited to Alecto Minerals Plc

Friday, 28 Mar 2014 03:01am EDT 

Savannah Resources PLC:Signs agreement with Alecto Minerals Plc to sell subsidiary NewMines Holdings Limited which through wholly owned subsidiary Tobon Tondo, holds exploration rights to Karan and Diatissan gold projects in western Mali.Consideration payable will be 20,000,000 Alecto shares priced at 1.25p, having an aggregate value of 250,000 Pound.This will increase Savannah's effective shareholding in Alecto to 17.9 pct of issued share capital. 

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-0.025 -0.56%
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