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ASX-listed Eurogold has bought a 29.04% stake in mining investment company Brinkley Mining.
Brinkley was set up to explore for uranium and it still has some residual uranium exploration interests. However, Brinkley is primarily an investment company with £6.81m in the bank. A 2.25p a share, Brinkley is valued at £8.02m.
The share sellers were funds associated with African Global Capital and Atomaer Holdings. Atomaer retains a 12.26% stake.
The AGC funds are managed by Africa Management Ltd, a joint venture between Mvelaphanda Holdings (Proprietary) Ltd, Och-Ziff Capital Management Group LLC and Palladino Holdings Ltd, which was founded by Walter Hennig.
Cayman Islands-based AGC, along with associates, also has a 17.4% stake in Aim-quoted Coal of Africa.
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