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Minerva Resources

  • BY: Andrew Hore |
  • POSTED: 24/04/2009 |

Minerva Resources says that it is looking at various forms of financing and corporate transactions, which may include an offer for the company. 

Minvera Resources is an Ethiopia-focused gold and platinum explorer. It was formed on 9 July 2007 when Ambrian Capital-owned Golden Prospect Mining Company reversed into Aim-quoted Palladex.

On 25 February 2009, shareholders approved the sale of its Kyrgyzstan-based drilling and geotechnical services business for $79,000 plus repayment of loans of $421,000. They also approved a capital restructuring and authorised the directors to enter into a Company Voluntary Arrangement.

The company is still going through the process of the CVA.

Shares in Minerva were suspended at 0.7p each on 30 January. That values Minerva at £1.08m.

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