https://www.engineeringnews.co.za

Company Announcement: Major shareholder to boost holding in Balamara to 19.9%

26th February 2013

  

Font size: - +

Balamara Resources Limited  (0.19 MB)

Balamara Resources Limited is pleased to advise that its major shareholder, Ample Skill Limited, has confirmed its continued support for the Company, committing to a further share placement to underpin Balamara’s continued exploration activities. The placement comprises 5.5 million shares at 11 cents per share to raise $605,000, before costs. Due to a small share placement completed in late 2012 as well as the issue of shares for the acquisition of the Varesh Project, Ample Skill’s relevant interest in Balamara had been diluted to approximately 17.7%. Following completion of this current share placement, Ample Skill will emerge with a holding of approximately 19.9% on a fully dilutive basis inclusive of options held. Both parties have signed a legally binding agreement to complete the placement by the end of March to allow for cash flow management. Balamara does not require any immediate funding and the primary objective of the placement is to secure long-term support from a valuable partner who has provided a strong level of strategic support for Balamara.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Vikela Aluvin (Pty) Ltd
Vikela Aluvin (Pty) Ltd

Complete range of security sealing solutions including security seals bags and labels.

VISIT SHOWROOM 
Flanders Electrical SA
Flanders Electrical SA

FLANDERS Southern Africa provides integrated solutions for mining and industrial operations, covering field services, automation, electrification,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.045 0.952s - 140pq - 2rq
Subscribe Now