Aviva Corporation (ASX: AVA) now has The Sentient Group as a new substantial shareholder, with the group now holding 17.5 million shares in Aviva - equating to around 10.5%.
The Sentient Group acquired the cornerstone position at $0.20, for a cost of $3.5 million, after participating in the Aviva capital raising program in July.
The funding injection to Aviva was primarily to fund a West Kenya drilling campaign.
West Kenya success
Earlier in the week Aviva announced that the company had achieved a maiden Inferred JORC Resource of 1.68 million tonnes at 4% copper equivalent at the Bumbo Deposit.
The resource comprises; 1.8% copper, 0.7 grams per tonne (g/t) gold, 36.8g/t silver and 5.4% zinc.
Most importantly - the initial resource exceeded the company's expectations in terms of tonnes and grade, and has been delineated within eight months of the commencement of drilling at Bumbo.
The Resource was compiled by independent expert Ian Glacken, who is a Fellow of the Australasian Institute of Mining and Metallurgy.
Originally published at: http://www.proactiveinvestors.com.au/companies/news/19219/aviva-corporation-new-substantial-shareholder-the-sentient-group-with-105-19219.html
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