Kasbah Resources’ (ASX: KAS) substantial shareholder Lion Selection Group has increased its shareholding to 13.83% after purchasing an additional 4.2 million shares between September and November.
Lion Selection is an African institutional investor that holds stakes in other ASX-listed developers and producers with an African focus including Gulf Industrials (ASX: GLF).
Kasbah’s primary focus is the Achmmach Tin Project in Morocco where the company has recently intersected extensions of the Meknes Resource in the latest drilling program.
The Achmmach project contains one of the largest undeveloped tin deposits in the world, with a JORC Resource of 7 million tonnes at 0.8% tin, with a cut-off grade of 0.5%, for 54,000 tonnes contained tin.
This comprises an Indicated Resource of 2.2 million tonnes at 0.8% tin, and an Inferred Resource of 4.8 million tonnes at 0.8% tin.
Originally published at: http://www.proactiveinvestors.com.au/companies/news/22591/kasbah-resources-substantial-shareholder-lion-selection-group-bumps-up-stake-to-1383-22591.html
Proactiveinvestors is a leading multi-media news organisation, investor portal and events management business with offices in New York, Sydney, Toronto, Frankfurt and London.
No comments:
Post a Comment