The London Stock Exchange uses cookies to improve its website. The cookies for analytical purposes have already been set. For more details and how to manage cookies, please see our privacy and cookies policy.

Alliance News Detail


Global Resources Investment Trust Declines Offer For Kalia Interest

[ 22 Sep 2017 15:55 ]

LONDON (Alliance News) - Global Resources Investment Trust PLC confirmed on Friday that it will not be accepting a share offer from GB Energy Ltd for its interest in Kalia Holdings.

The trust has confirmed, however, that it will be entering into a shareholder's agreement with GB Energy.

Global Resources Investment Trust's Kalia investment is currently valued at AUD4.4 million based on the "see through" value of the GB Energy shares offer.

Kalia Holdings, registered in Australia, is the parent company of Kalia Investments Ltd, which holds the contractual exploration rights for minerals and mine development in the Tinputz district of North Bougainville, Papua New Guinea.

Kalia Investments has recently lodged licence applications in Bougainville following the lifting of a moratorium on exploration and mining in place since 1971. The area, which sits on the pacific 'rim of fire' tectonic plate boundary is thought to be rich in copper and epithermal gold deposits.

Shares in Global Resources Investment Trust were trading up 7% at 13.38 pence on Friday.

By Sam Cole; samcole@alliancenews.com

Copyright 2017 Alliance News Limited. All Rights Reserved.


Global Resources Investment Trust Declines Offer For Kalia Interest - Alliance News

The Exchange accepts no responsibility for the content of the website you are now accessing or for any reliance placed by you or any person on the information contained on it.

By allowing this link the Exchange does not intend in any country, directly or indirectly, to solicit business or offer any securities to any person.

You will be redirected in five seconds.

You are accessing the London Stock Exchange Annual Report Service powered by PrecisionIR.

The Exchange accepts no responsibility for the content of the reports you are now accessing or for any reliance placed by you or any person on the information contained therein.

By allowing this link the Exchange does not intend in any country, directly or indirectly, to solicit business or offer any securities to any person.

You will be redirected in five seconds