Caledonia has signed an MOU with Fremiro to purchase its 15% holding in the Blanket mine in Zimbabwe. This is very positive news and follows up on Caledonia’s desire to increase its holding in this profitable asset. The purchase price is the cancellation of a vendor financed loan from Caledonia for $11.5m and 0.73m shares in Caledonia (worth $5.2m) – leaving Fremiro with a 6.4% holding in Caledonia itself and Caledonia with a 64% interest in the Blanket mine and overall majority control. The dea ....
24 Aug 2018
MOU to acquire 15% additional holding in Blanket Gold mine
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MOU to acquire 15% additional holding in Blanket Gold mine
Caledonia Mining Corporation PLC (CMCL:LON) | 820 0 0.0% | Mkt Cap: 157.4m
- Published:
24 Aug 2018 -
Author:
Paul Smith -
Pages:
4
Caledonia has signed an MOU with Fremiro to purchase its 15% holding in the Blanket mine in Zimbabwe. This is very positive news and follows up on Caledonia’s desire to increase its holding in this profitable asset. The purchase price is the cancellation of a vendor financed loan from Caledonia for $11.5m and 0.73m shares in Caledonia (worth $5.2m) – leaving Fremiro with a 6.4% holding in Caledonia itself and Caledonia with a 64% interest in the Blanket mine and overall majority control. The dea ....