News blog

Centurion Resources

• BY: Andrew Hore |
• POSTED: 12/11/2012 |

Austria-focused miner Centurion Resources has joined Aim.

Having raised £1m at 1p a share, the share price ended the first day’s trading at 1.12p.

Centurion owns the Mitterberg copper project. It acquired an 80% stake in return for 550m shares at 1p each. Centurion has the option to buy the other 20% for £400,000 in cash and shares. Mitterburg is a copper mine that used to be in production.

After expenses Centurion has £830,000 to invest in surveying and drilling in order to assess the resource and in working capital.

Centurion, formerly known as Charles Street Capital, was capitalised at £2.3m at the placing price of 1p a share. The current market value is £2.58m.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFOctober2012_37.pdf