Mineral & Financial Investments ( (GB:MAFL) ) has issued an update.
Mineral & Financial Investments Limited announced that its investee company, Ascendant Resources Inc., plans to merge with Cerrado Gold Inc., subject to conditions. The transaction could result in Mineral & Financial Investments owning 0.4% of the new entity. The company also holds a 20% carried interest in the Lagoa Salgada project, with a potential option for the Portuguese State Mining Development Agency to acquire a 15% working interest. The proposed merger is expected to strengthen Ascendant’s financial position, although no changes are anticipated for the Lagoa Salgada project.
More about Mineral & Financial Investments
Mineral & Financial Investments Limited operates in the investment sector, focusing on acquiring and managing strategic stakes in resource-based companies. Its primary market focus includes investments in mining and financial sectors, with an interest in projects such as the Lagoa Salgada project in Portugal.
YTD Price Performance: 20.41%
Average Trading Volume: 106,079
Technical Sentiment Consensus Rating: Sell
Current Market Cap: £5.47M
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