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China Africa Resources

  • BY: Andrew Hore |
  • POSTED: 02/01/2017 |

China Africa Resources intends to take advantage of the tough trading conditions to pick up resource assets.

The company is a cash shell as of the general meeting on 14 December and it has six months to make a significant acquisition. The main focus is energy metals and minerals, which could be involved in energy generation or storage. There are a dozen opportunities in Africa, Australia and the Americas. 

The company’s original mining business China Africa Resources Namibia has been distributed to shareholders via a special dividend valued at 1.75p a share. A fundraising at 2.17p a share raised £1m. New chief executive Paul Johnson subscribed £50,000 and the board are excepting 50% of their remuneration in shares.

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