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CEB Resources

  • BY: Andrew Hore |
  • POSTED: 21/03/2014 |

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.

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