Natasa Mining Ltd has acquired a 15.1% stake in Tajikistan-focused gold miner Kryso Resources.
Natasa bought the shares from Great Basin Gold Ltd for 9.5p a share. At 11.25p a share, up 1.25p on the day, Kryso is valued at £18.1m.
Kryso’s main asset is its 2.8m ounce Pakrut gold project. The banking feasibility study was supposed to be completed this month but further drilling data is being incorporated in the study. This means it will be completed and published in early August.
Vassilios Carellas resigned as managing director in May 2009 and Kryso has a short list of candidates for chief executive.
Kryso had net cash of $1.1m at the end of 2009.
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