 |
|
Metals Exploration acquires Philippines mining concern
Metals Exploration, an investor in the precious and base metals sector, has acquired the remaining 15% of Philippines-based FCF Mining Corporation for A$9.1 million (£3.87 million).
The total payment includes A$2.6 million (£1.11 million) for the shares representing the 15% interest, and A$6.5 million (£2.76 million) for the total debt owed by parent company Filminera Resources Corporation.
FCF holds the permit to Metals Exploration plc's flagship Runruno Project in the
Jonathan Beardsworth, CEO of £38.25 million market capped Metals Exploration, said: “This is an important strategic acquisition for Metals Exploration since it delivers 100% control of Runruno and materially simplifies the ownership structure.
“We are now better placed to continue adding value to our Runruno project, which remains the Company's most promising and prospective asset.”
People also read ... |
Related Articles |
Interesting links
Other Sector Watch
- Investment veteran airs fears over UK biotech Oct 21 2008
- Talking rubbish Jul 28 2008
- Crisis?– what crisis? Jul 01 2008
- Let the
drilling begin
May 13 2008 - Bargains on the high street
Mar 13 2008
M&A News
- YFM backs training programme for golfers Dec 04 2008
- Biomonitor buys Neutekbio gene technology firm Dec 04 2008
- UK top EU dealmaker by volume Dec 03 2008
- Marfin Investment buys Flight Ambulance stake Dec 03 2008
- Corporates idealistic about M&A Dec 02 2008
Special Offers
- 2008 AIM Guide: Jul 17 2007
- Growth Company Investor Magazine: Jul 17 2007
- Cash Shells 2007 - Research report Jul 17 2007
- Venture Capital Trusts Jul 04 2007
M&A Deals
- BTG buys Protherics Dec 04 2008
- Umeco announces Italian acquisition Dec 04 2008
- Sunkar signs Temir subsidiary deal Dec 03 2008
- Destiny gets £4.8m injection Dec 03 2008
- IMS Maxims acquires CSW assets Dec 02 2008
Business Diary
- M&A Expanding internationally 27th November
- Rosenblatt New Energy Awards 2009 25th February