CEB Resources has taken an initial stake in Carbon Investment in line with the original announcement.
The initial 10% stake cost £200,000 in cash plus 20m CEB shares at a price of 0.715p a share. The total cost is £343,000. Carbon Investment controls the Mariola thermal coal project near Katowice in southern Poland.
Within six months of the original agreement a further 10% stake can be bought for £400,000 in cash plus 20m CEB shares. A JORC resource should be reported for Mariola in this timescale, which will confirm the attractiveness of the investment - or if it does not the stake will probably not be acquired.
At 0.69p a share, CEB is valued at £1.74m.
Download the latest AIM Journal from http://wwww.hubinvest.com/AIMPDFMarch2014_54.pdf
© 2022 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.