Cradle ARC (CRA)
Cradle Arc signs option agreement to sell Zambia gold mines
Cradle Arc said it had granted Singa Holdings Zambia an option to either establish a joint venture with subsidiary Luiri Gold Mines or acquire it outright for $2.5m.
Luiri holds the Matala and Dunrobin gold assets in Zambia.
In the event of an acquisition, Cradle Arc would receive a royalty of 1.5% of gross revenue generated from thegold assets, up to a maximum aggregate amount of its net present value of $2.5m, discounted at 8%.
At 2:53pm: (LON:CRA) Cradle Arc Plc share price was 0p at 6.98p
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|Bid / Ask||6.85 / 7|
|Day Range||6.935 / 6.98|
|52Week Range||3.50 / 11.84|
|Last Update: 08:44:51 (20/04/18)|