Monday, March 31, 2014

BVI company acquired stake in Celamin Holdings NL

BVI-incorporated natural resources exploration company Polo Resources Limited announced that it has acquired a placement in Celamin Holdings NL, an ASX-listed company with phosphate interests in Tunisia, representing a strategic 12.7 per cent stake in the expanded fully paid capital of the company, for an investment of A$1.2 million.

By words of Michael Tang, the Executive Chairman of the BVI company, “This is an excellent opportunity for Polo Resources to add phosphate to its suite of projects through this investment in Celamin.”

Celamin holds an agreed 51 per cent interest in the licences, along with its Tunisian partner holding 49 per cent.